The U.S. Financial Services Committee held an oversight hearing with Securities and Exchange Commission (SEC) Chairman Paul Atkins, with Chairman French Hill framing the session around the SEC’s recent direction and its alignment with the agency’s statutory mission. In prepared remarks, Hill criticised the SEC’s approach under former Chair Gary Gensler, arguing it relied on “regulation-by-enforcement” and politicised rulemakings that increased compliance burdens and coincided with a decline of more than 10 percent in the number of publicly listed companies since 2021. He pointed to the House’s advance of the INVEST Act in December as a bipartisan effort to reduce red tape and expand capital formation, and praised Atkins for reversing prior rulemakings viewed as hindering capital formation and for refocusing the Commission on core enforcement responsibilities. The hearing agenda included the SEC’s approach to digital asset regulation, steps to “depoliticize” the proxy process, and internal reforms at the Commission. Hill also called for Congress to provide a durable framework for digital asset markets and said the Committee is looking to move market structure legislation to the President.
U.S. Financial Services Committee 2026-02-11
U.S. Financial Services Committee holds SEC oversight hearing with Chair Paul Atkins focused on digital assets and proxy and internal reforms
The U.S. Financial Services Committee held an oversight hearing with SEC Chairman Paul Atkins, focusing on the SEC's recent direction and alignment with its statutory mission. Chairman French Hill criticized previous SEC leadership for increasing compliance burdens and praised Atkins for reversing rulemakings that hindered capital formation, while also discussing digital asset regulation and internal reforms.