On Fixing the Watchdog: Legislative Proposals to Improve and Enhance the SEC

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Thank you very much, Mr. Chairman, Ranking Member Frank, and Members of the Committee, for inviting me to appear today at your hearing. It is an honor and privilege for me to provide information for your deliberations regarding organizational issues at the Securities and Exchange Commission.

I come before you today as a visiting scholar at the American Enterprise Institute for Public Policy Research, as well as a former commissioner of the Securities and Exchange Commission and a former member of the Congressional Oversight Panel for the TARP.

I would like to begin by congratulating this Committee for taking up the issue of improving and enhancing the SEC. I have had the privilege of working at the SEC a total of ten years, first as a staffer in two chairmen’s offices and then as a commissioner under three chairmen. In that time the SEC has grown from an agency of approximately $170 million to the current budget of more than $1 billion.

Paul S. Atkins is a visiting scholar at AEI.

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