SEC's Paul Atkins Pushes Out Nation’s Top Auditor

WASHINGTON, DC - On Tuesday, July 15, Trump's Securities and Exchange Commission (SEC) Chair Paul Atkins forcefully removedthe top official overseeing audit firms yesterday, following a patternof aggressive rollbacks limiting oversight and regulation of Wall Street and big corporations.

Atkins's move against Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams threatens a repeat of the regulatory failures that enabled past accounting scandals like Enron and WorldCom. With the departure of Williams, who had instituted critical and long-overdue audit standards, Wall Street and corporate America face fewer financial cops on the beat at a time when Trump's economic chaos and climate-related financial risks demand greater accountability and transparency, not less.

After a series of devastating floods and other climate-driven disasters, companies continue to grapple with accounting for mounting climate financial risks, as investors demand clearer reporting and transparency. Despite the growing risk, Trump's former Wall Street and crypto lobbyist-turned-SEC Chair Atkinsis working systematically to dismantle the regulatory infrastructure designed to protect markets from fraudulent accounting practices and growing climate risks.

"This deregulatory fervor echoes the SEC chair's past deregulatory approach that preceded the 2008 economic collapse, when weak oversight led to the subprime mortgage collapse. With less oversight and a SEC chair committed to gutting regulations that protect investors and the broader economy, the stage is set for a return to the kind of Wall Street gambling that historically precedes a financial crisis," said Jessye Waxman, Campaign Advisor for the Sierra Club's Sustainable Finance campaign.

About the Sierra Club

The Sierra Club is America's largest and most influential grassroots environmental organization, with millions of members and supporters. In addition to protecting every person's right to get outdoors and access the healing power of nature, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit https://www.sierraclub.org.