The transition from Gensler to Atkins marks a shift in the SEC’s regulatory approach and enforcement style.
Consulting firm Cornerstone Research has released data showing a reduction in the number of enforcement actions taken by the U.S. Securities and Exchange Commission (SEC) under the new leadership compared to the previous administration.
According to the report, Cornerstone Research found that during Chairman Paul Atkins’ tenure, enforcement actions against publicly traded companies and their subsidiaries fell by approximately 30% in fiscal year 2025 compared to fiscal year 2024.
The analysis notes that this trend is “consistent with the general pattern observed in other fiscal years marked by a change in SEC leadership,” referencing former chairman Gary Gensler.
“Chairman Atkins has indicated that a ‘top priority’ of his administration will be ‘to provide a solid regulatory foundation for digital assets through a rational, consistent, and principle-based approach,’” Cornerstone stated.
During the U.S. government shutdown that ended last week, the agency operated with reduced staff for 43 days, limiting its oversight and enforcement capabilities. After returning to normal operations, the SEC released its examination priorities for 2026 and resumed reviewing applications for initial public offerings, exchange-traded funds, and other matters within its jurisdiction.
