US senator accuses SEC chair of false statements on enforcement decline

U.S. Senator Elizabeth Warren has accused U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins of potentially making false statements to Congress about a decline in the agency's enforcement activities. According to Decrypt, during a Feb. 12 Banking Committee hearing, Atkins was asked about the sharp drop in new sanctions under the second Trump administration and responded that he disagreed with the premise of the question. However, recently released SEC data shows the regulator brought only 456 new enforcement actions last year, with 200 of those initiated under the previous Biden administration. This figure is down from a 10-year annual average of 765. Warren noted that the sharp decrease in enforcement, coupled with significant staff reductions and a sudden change in leadership, raises serious questions about the commission's commitment and ability to protect investors and the market.