US Senator Elizabeth Warren has accused SEC head Paul Atkins of potentially misleading Congress about the agency’s enforcement activity. In a letter, Warren cited newly released data showing SEC enforcement actions in fiscal year 2025 fell to their lowest point in over a decade, contradicting Atkins’s earlier testimony where he claimed to be unsure about such data.
Senator Elizabeth Warren has accused Securities and Exchange Commission head Paul Atkins of possibly lying to Congress. The accusation was made in a letter dated Wednesday concerning the agency’s enforcement numbers.
Warren stated that recently released SEC data for fiscal year 2025 raised significant concerns about Atkins’s answers at a February hearing. “At the hearing, I specifically asked you to comment on publicly available data highlighting a decline in SEC enforcement activity,” Warren wrote.
“In response, you demurred, stating that you were ‘not sure what data’ I was looking at,” she added. The new data shows the number of enforcement actions initiated was lower than any point in the last decade.
Warren said the figures were deeply disturbing and showed the SEC had largely abdicated its enforcement responsibilities. She noted enforcement activity had dropped to the lowest level in more than 20 years.
The senator told Atkins his answers now appear deeply misleading and potentially designed to cast doubt on an obvious decline. She said this raises concerns he may have been deliberately trying to mislead the committee.
The SEC has rolled back its enforcement against crypto companies under the current administration. It has settled or dismissed crypto-related lawsuits launched under the previous administration.
Warren’s letter asks Atkins a series of questions about his awareness of the enforcement efforts during his testimony. She requested he explain the agency’s decline in enforcement and respond by April 28.
The SEC did not immediately respond to a request for comment. The hearing in question took place more than four months after the end of the 2025 fiscal year.
