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By: John Mahon, Shaina Maldonado, Caroline Spillane - Proskauer Rose

On May 19, 2025, the Securities and Exchange Commission's Chairman Paul Atkins delivered prepared remarks before the SEC Speaks Conference hosted by the Practicing Law Institute (PLI). In his remarks, Atkins shared his forward-looking vision for the SEC, emphasizing the importance of regulatory flexibility, financial innovation, and market adaptability. His speech signaled a continued shift toward a more adaptable and transparent regulatory approach aimed at fostering innovation while maintaining investor protection and market integrity.

SEC Innovation

Atkins stressed the importance of ingraining innovation into the SEC's culture and allowing for regulatory adaptability in response to new market developments such as crypto. To this end, he noted his intention to integrate the functions of the Strategic Hub for Innovation and Financial Technology (FinHub) into other parts of the agency. He made clear in his remarks that he wants innovation to be a priority throughout the entire agency, rather than a focus of just one office.

Rethinking the Private Fund 15% Threshold

Atkins highlighted the dramatic growth of the private fund market, noting that assets under management have nearly tripled over the past decade from $11.6 trillion to $30.9 trillion. He acknowledged the increased oversight of and enhanced reporting by both private fund advisers and registered closed-end funds, and empha......................

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