Months after former SEC Commissioner Annette Nazareth left her post, one of her colleagues is making the same move. CFO.com reports Commissioner Paul Atkins will step down when his term expires in the summer. Atkins has worked with the commission for 10 years, the last six as a commissioner.
Last year, Atkins was considered for the top spot at the Commodity Futures Trading Commission, but it is unclear what his plans are now. SEC officials say only that he will stay until his replacement is found. (The SEC is already functioning with the vacancies created when Nazareth and former commissioner Roel Campos left.)
When Atkins was appointed Commissioner in 2002, the country and the markets were still reeling from the Enron scandal and Sarbanes-Oxley had just been enacted. Because there was so much rulemaking happening with so many strict deadlines, he hit the ground running, so to speak. Atkins also worked to revise Auditing Standard 2.
According to CFO.com:
Christopher Cox, SEC chairman, noted Atkins' devotion to "ensuring that the costs of regulation are kept in line with its benefits."