Skip to main content

SEC Commissioner Paul Atkins: Enemy of Panic Regulation

Paul Atkins is our favorite SEC commissioner. When last we met him, Atkins was explaining how certain kinds of options timing schemes might not be quite the scandal they were being made out to be. Today he’s being quoted in the press saying that the Amaranth meltdown shows that the post-LTC risk controls work and no further regulation is needed.
"If you look at the latest one with Amaranth, it looked like the system worked as far as the prime broker getting nervous about exposure and taking steps to ensure it did not grow," Atkins told reporters during a tour of Europe.
"On the whole, from what I can see... the system worked."
Asked if new regulation was needed, Atkins said: "Not at all."
SEC's Atkins says risk system worked with Amaranth [Reuters]