March 25 (Reuters) - Paul Atkins, President Donald
Trump's pick to lead the U.S. Securities and Exchange
Commission, has disclosed personal assets held jointly with his
wife valued at more than $328 million, according to a Reuters
analysis of ethics documents released on Tuesday.
Atkins is due to face Senate confirmation hearings on
Thursday, nearly four months after Trump tapped him to oversee
the $120 trillion U.S. capital markets amid a sweeping White
House attack on the federal workforce in which thousands have
been dismissed.
The SEC is set to hemorrhage workers under voluntary buyouts
offered by the White House, which come as officials say the
agency was already stretched thin.
Atkins, who was an SEC commissioner from 2002 to 2008, did
not immediately respond to a request for comment. However, a
spokesperson for the Trump presidential transition said Atkins
was in full compliance with ethics and disclosure requirements.
"If confirmed, Mr Atkins will consult with the SEC's
ethics officer and act in accordance with the governing
regulations during his term at the SEC," the spokesperson said.
Atkins has pledged to divest from his risk consultancy
Patomak Global Partners, which he valued at between $25 million
and $50 million, which counts an array of giant corporations as
clients.
Financial disclosures reveal asset valuations in ranges,
rather than precise amounts. The possible upper bound for the
husband-and-wife total assets could exceed $588.8 million, the
documents show.
Atkins' lengthy career defending industry and extensive
financial portfolio have sparked concern over potential
conflicts, with Democratic Senator Elizabeth Warren on Monday
writing to the former commissioner for more details on his
involvement with failed crypto exchange FTX among others.
Patomak, is among FTX's creditors, according to bankruptcy
filings.
Atkins' financial disclosures also show he has been an
expert witness for clients that have been the target of SEC
enforcement, such as Virtu Financial ( VIRT ) and JPMorgan ( JPM )
. Virtu representatives did not immediately respond to
requests for comment. A spokesperson for JPMorgan ( JPM ) declined to
comment.
The lion's share of the diverse Atkins family fortune
derives from Atkins' marriage to Sarah Humphreys Atkins, whose
family helped found the roofing materials supplier Tamko.
Atkins also disclosed 32 positions in organizations outside
the government, including eight family trusts, seven LLCs and
six nonprofits.