Catenaa, Friday, April 03, 2025- The US Senate Banking Committee on Thursday advanced President Donald Trump’s nomination of Paul Atkins to lead the Securities and Exchange Commission, moving one step closer to reshaping the country’s top Wall Street regulator.
The vote, split strictly along party lines at 13-11, also advanced Trump’s nominees for key financial and transportation posts, including Jonathan Gould for comptroller of the currency.
However, Paul Atkins has not yet formally assumed the role of chair of the SEC as the Senate Banking Committee’s vote only advanced his nomination to the full Senate for final approval.
The next step in the confirmation process is a floor vote in the Senate, which holds a 53-47 Republican majority. While Atkins is widely expected to be confirmed, the vote must take place before he can officially assume the post.
If confirmed, Atkins will then be sworn in, a process that typically occurs within days of Senate approval. Only after taking the oath of office will he officially begin his duties as SEC chair.
The committee’s 13-11 party-line vote marked a key procedural milestone in advancing President Donald Trump’s nominee. However, confirmation by the full Senate and completion of formalities remain before Atkins can take over at the helm of Wall Street’s top regulatory agency.
In a less contentious move, the committee also approved the nominations of Luke Pettit, a former Senate aide tapped for an assistant secretary post at the U.S. Treasury, and Marcus Molinaro, the administration’s choice to lead the Federal Transit Administration.
The nominations now proceed to the full Senate for confirmation as the Trump administration continues to reshape federal oversight bodies with loyalists committed to a lighter regulatory touch.
