Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Counsel to Commissioner Hester M. Peirce, U.S. Securities and Exchange Commission
Thaya Brook Knight was associate director of financial regulation studies at the Cato Institute. She is an attorney with extensive experience in securities regulation, small business capital access, and capital markets. Before joining Cato, she co-founded and served as general counsel of CrowdCheck, a company providing due diligence and disclosure services in the online investing market. Following the recent financial crisis, she served as investigative counsel for the congressional oversight panel charged with overseeing the expenditure of Troubled Asset Relief Program funds. She also spent several years with the Washington office of the law firm WilmerHale, where her practice focused on securities litigation, securities enforcement defense, and corporate investigations.
She holds a BA from Middlebury College and a JD from the University of Michigan Law School.
Associate Director, NERA Economic Consulting
Andrew Stivers specializes in the economics of consumer protection and privacy. He has developed and conducted analysis of novel and complex questions of consumer behavior and injury related to privacy, algorithmically driven practices, and cutting-edge promotion and advertising strategies.
Dr. Stivers has provided his economic expertise to companies in the top tiers of the video/audio streaming, retail platform, gig economy, gaming, and health data industries. He has also consulted with a broad range of established and growing businesses, including in the telecommunications, payments, investment, and food and supplement industries. Dr. Stivers helps clients achieve fair outcomes that are grounded in rigorous and accessible economic analysis.
Prior to joining NERA, Dr. Stivers was a senior official in the US Federal Trade Commission’s Bureau of Economics, where he oversaw economic analysis of all consumer protection and privacy matters. He advised the Bureau of Consumer Protection and Commissioners on hundreds of regulatory and law enforcement matters during his seven-year tenure leading this work at the Commission. Dr. Stivers was directly involved in developing economic analysis and standards for evaluating novel and consequential matters.
Prior to his leadership role at the FTC, Dr. Stivers served as the Director of the Division of Public Health Informatics and Analytics at the Food and Drug Administration’s Center for Food Safety and Applied Nutrition, overseeing the Center’s statistical, epidemiological, and consumer research groups. His regulatory work for the agency included providing economic and behavioral analysis to consumer nutrition labeling initiatives. As an academic, Dr. Stivers focused his research on the regulation of information and language in the marketplace.
Dr. Stivers has written and presented on complex and wide-ranging economic topics, published economic papers, and presented keynotes and panel discussions on a variety of informational, privacy, data security, and consumer behavior topics. These include invited presentations at academic and regulator-sponsored conferences and workshops, including by the FTC and the Bank of Canada.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Senior Fellow-in-Residence, Milken Institute
Ed DeMarco is a Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt University. He is a member of the Comptroller General’s Advisory Board for the U.S. Government Accountability Office and a Fellow of the National Academy of Public Administration.
From September 2009 to January 2014 DeMarco served as Acting Director of the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. DeMarco was the Chief Operating Officer and Senior Deputy Director of FHFA and its predecessor from 2006 to 2009. From 2003 to 2006 he was an executive at the Social Security Administration (SSA), where he was Assistant Deputy Commissioner for Policy.
Before joining SSA, DeMarco was Director of the Office of Financial Institutions Policy at the U.S. Department of the Treasury, where he oversaw analyses of policy issues involving banks, government sponsored enterprises and other financial institutions. He worked at the U.S. General Accounting Office from 1986 to 1994.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Resident Scholar, American Enterprise Institute
Paul H. Kupiec is a resident scholar at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. He also follows the work of financial regulators such as the Federal Reserve and examines the impact of financial regulations on the US economy.
Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC), where he oversaw research on bank risk measurement and the development of regulatory policies such as Basel III. Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.
Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management.
He has a bachelor of science degree in economics from George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Partner and Deputy Chair, Securities Department, WilmerHale
Daniel Gallagher advises corporate boards and management on the full range of legal and strategic issues they face, and counsels financial services and accounting firms in investigations, regulatory proceedings and policy matters. Mr. Gallagher brings to his practice an unparalleled breadth of experience from having served not only in senior positions at the Securities and Exchange Commission but also as the chief legal officer of a global, S&P 500 corporation and general counsel of a broker-dealer.
Mr. Gallagher has extensive experience in the public and private sectors, navigating regulatory matters, financial markets, corporate legal affairs and governance, and fintech issues, including the regulatory and policy issues arising from new technology.
Mr. Gallagher previously served as the chief legal officer at Mylan N.V., a leading global pharmaceutical company; as the president of a financial services consulting firm; and as an SEC Commissioner. As an SEC Commissioner, Mr. Gallagher championed corporate governance reform, advocated for a comprehensive holistic review of equity market structural issues, and encouraged greatly improving the commission’s fixed income market expertise.
Mr. Gallagher also served on SEC staff in various senior roles, including as the deputy director and co-acting director of the Division of Trading and Markets, where he was on the front lines of the agency’s response to the financial crisis, including representing the commission in the Lehman Brothers liquidation. He was also a counsel to former SEC Commissioner Paul Atkins and to former Chairman Christopher Cox, working on matters involving the Division of Enforcement and the Division of Trading and Markets.
Earlier in his career, Mr. Gallagher was the senior vice president and general counsel of a global provider of financial services technology, where he managed all legal and regulatory matters. He first joined WilmerHale in 1993 as an associate in the firm’s Securities Department.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Senior Fellow-in-Residence, Milken Institute
Ed DeMarco is a Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt University. He is a member of the Comptroller General’s Advisory Board for the U.S. Government Accountability Office and a Fellow of the National Academy of Public Administration.
From September 2009 to January 2014 DeMarco served as Acting Director of the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. DeMarco was the Chief Operating Officer and Senior Deputy Director of FHFA and its predecessor from 2006 to 2009. From 2003 to 2006 he was an executive at the Social Security Administration (SSA), where he was Assistant Deputy Commissioner for Policy.
Before joining SSA, DeMarco was Director of the Office of Financial Institutions Policy at the U.S. Department of the Treasury, where he oversaw analyses of policy issues involving banks, government sponsored enterprises and other financial institutions. He worked at the U.S. General Accounting Office from 1986 to 1994.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Resident Scholar, American Enterprise Institute
Paul H. Kupiec is a resident scholar at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. He also follows the work of financial regulators such as the Federal Reserve and examines the impact of financial regulations on the US economy.
Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC), where he oversaw research on bank risk measurement and the development of regulatory policies such as Basel III. Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.
Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management.
He has a bachelor of science degree in economics from George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.
Wayne A. Abernathy, Wild Bells
Wayne A. Abernathy is a former U.S. Treasury Assistant Secretary for Financial Institutions under President George W. Bush, receiving the Alexander Hamilton Award in recognition of his service. In that office he was also a member of the Board of Directors of the Securities Investor Protection Corporation. Prior to his work at the Treasury, Mr. Abernathy served as Staff Director of the Senate Banking Committee, under Chairman Phil Gramm.
Following his service at the Treasury, Mr. Abernathy worked for 15 years on the staff of the American Bankers Association, as Executive Vice President for Financial Institutions Policy and Regulatory Affairs.
Previous experience with the Senate Banking Committee includes serving as Staff Director of the Subcommittee on Securities during 1995-1998. From 1989 until 1994, Mr. Abernathy was a Republican economist for the committee. He previously worked as a senior legislative assistant for Senator Gramm during 1987-1989 and as an economist for the Banking Committee’s Subcommittee on International Finance and Monetary Policy during 1981-1986, under Chairman Jake Garn.
Mr. Abernathy earned his bachelor’s degree in International Studies from The Johns Hopkins University in 1978. In 1980, he received a master’s degree in International Studies from the School of Advanced International Studies of The Johns Hopkins University.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Senior Fellow-in-Residence, Milken Institute
Ed DeMarco is a Senior Fellow in Residence at the Milken Institute Center for Financial Markets and a Visiting Professor in the Owen Graduate School of Management at Vanderbilt University. He is a member of the Comptroller General’s Advisory Board for the U.S. Government Accountability Office and a Fellow of the National Academy of Public Administration.
From September 2009 to January 2014 DeMarco served as Acting Director of the Federal Housing Finance Agency (FHFA), the conservator for Fannie Mae and Freddie Mac and regulator of those companies and the Federal Home Loan Banks. DeMarco was the Chief Operating Officer and Senior Deputy Director of FHFA and its predecessor from 2006 to 2009. From 2003 to 2006 he was an executive at the Social Security Administration (SSA), where he was Assistant Deputy Commissioner for Policy.
Before joining SSA, DeMarco was Director of the Office of Financial Institutions Policy at the U.S. Department of the Treasury, where he oversaw analyses of policy issues involving banks, government sponsored enterprises and other financial institutions. He worked at the U.S. General Accounting Office from 1986 to 1994.
Principal, Ely & Company, Inc.
Bert Ely has specialized in deposit insurance and banking structure issues since 1981. In 1986, he became an early predictor of the S&L crisis and a taxpayer bailout of the FSLIC. In 1991, he was the first person to correctly predict the non-crisis in commercial banking; in 1992, he predicted an eventual taxpayer bailout of the Japanese banking system.
Bert continuously monitors conditions in the banking and S&L industries, monetary policy, and the growing federalization of credit risk. He has helped to draft legislation to enact the cross-guarantee concept for privatizing banking regulation and its related deposit insurance and systemic risks. He has testified on numerous occasions before congressional committees on banking issues and he often speaks on these matters to bankers and others.
Bert first established his consulting practice in 1972. Before that, he was the chief financial officer of a public company, a consultant with Touche, Ross & Company, and an auditor with Ernst & Ernst. He received his MBA from the Harvard Business School in 1968 and his Bachelor's degree in economics in 1964 from Case Western Reserve University.
Resident Scholar, American Enterprise Institute
Paul H. Kupiec is a resident scholar at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. He also follows the work of financial regulators such as the Federal Reserve and examines the impact of financial regulations on the US economy.
Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC), where he oversaw research on bank risk measurement and the development of regulatory policies such as Basel III. Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision. He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System.
Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management.
He has a bachelor of science degree in economics from George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.
Partner and Deputy Chair, Securities Department, WilmerHale
Daniel Gallagher advises corporate boards and management on the full range of legal and strategic issues they face, and counsels financial services and accounting firms in investigations, regulatory proceedings and policy matters. Mr. Gallagher brings to his practice an unparalleled breadth of experience from having served not only in senior positions at the Securities and Exchange Commission but also as the chief legal officer of a global, S&P 500 corporation and general counsel of a broker-dealer.
Mr. Gallagher has extensive experience in the public and private sectors, navigating regulatory matters, financial markets, corporate legal affairs and governance, and fintech issues, including the regulatory and policy issues arising from new technology.
Mr. Gallagher previously served as the chief legal officer at Mylan N.V., a leading global pharmaceutical company; as the president of a financial services consulting firm; and as an SEC Commissioner. As an SEC Commissioner, Mr. Gallagher championed corporate governance reform, advocated for a comprehensive holistic review of equity market structural issues, and encouraged greatly improving the commission’s fixed income market expertise.
Mr. Gallagher also served on SEC staff in various senior roles, including as the deputy director and co-acting director of the Division of Trading and Markets, where he was on the front lines of the agency’s response to the financial crisis, including representing the commission in the Lehman Brothers liquidation. He was also a counsel to former SEC Commissioner Paul Atkins and to former Chairman Christopher Cox, working on matters involving the Division of Enforcement and the Division of Trading and Markets.
Earlier in his career, Mr. Gallagher was the senior vice president and general counsel of a global provider of financial services technology, where he managed all legal and regulatory matters. He first joined WilmerHale in 1993 as an associate in the firm’s Securities Department.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Bernard L. Schwartz Chair in Economic Policy, Brookings Institution
Resident Fellow, American Enterprise Institute
Timothy P. Carney is a resident fellow at the American Enterprise Institute, where he works on economic competition, cronyism, civil society, localism, and religion in America. He is concurrently the commentary editor at the Washington Examiner.
Mr. Carney’s latest book, “Alienated America: Why Some Places Thrive While Others Collapse” (HarperCollins), was published in February 2019. His previous books include “Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses” (Regnery Publishing, 2009) and “The Big Ripoff: How Big Business and Big Government Steal Your Money” (John Wiley & Sons, 2006), which was awarded the 2008 Culture of Enterprise award by the Intercollegiate Studies Institute.
In addition to his Washington Examiner columns, Mr. Carney’s work has been published in a variety of magazines, websites, and newspapers, including The Atlantic, New York Post, The New York Times, Reason Magazine, and The Wall Street Journal. His television appearances include CNBC, CNN, Fox News, MSNBC, and the “PBS NewsHour.”
Mr. Carney has a bachelor’s degree from St. John’s College in Annapolis.
Partner, Davis Polk & Wardwell LLP
Mr. Guynn is head of Davis Polk’s Financial Institutions Group. He has been recognized as a thought-leader on financial regulatory reform and as one of the most widely consulted U.S. legal advisers during the financial crisis. See “In the Red Zone,”The American Lawyer, January 2009 and “For Davis Polk, Dodd-Frank Pays,” The American Lawyer, December 2010.
He has advised the Securities Industry and Financial Markets Association (SIFMA), the principal trade organization for U.S. banks, securities firms and asset managers, all of the U.S.’s six-largest banks and several foreign banks on the Dodd-Frank Act and its regulatory implementation.
His practice focuses on providing strategic bank and regulatory and enforcement advice and advising on M&A and capital markets transactions when the target or issuer is a banking organization or other financial institution. He also advises on bank failures and recapitalizations, corporate governance and internal controls, cross-border collateral transactions, credit risk management, securities settlement systems and payment systems.
Director of Research, Bloomberg Government, Bloomberg News
Now Director of Research at Bloomberg Government, Robert E. Litan has had a distinguished career. He had been vice president for Research and Policy at the Ewing Marion Kauffman Foundation in Kansas City, where he oversaw the Foundation’s extensive program for funding data collection and research relating entrepreneurship and economic growth. Dr. Litan also writes frequently with the Foundation’s president, Carl Schramm. Their book, Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity, co-authored with William Baumol, (Yale University Press, 2007) has been translated into ten languages and is used as a college text around the world.
Dr. Litan was also a senior fellow in Economic Studies at the Brookings Institution, where he previously was vice president and director of Economic Studies. During his career, Dr. Litan has authored or co-authored over twenty books, edited another fourteen, and authored or co-authored over 200 articles in journals, magazines, and newspapers on a broad range of public policy issues. His other recent books include: Competitive Equity: Developing a Lower Cost Alternative for Mutual Funds (with Peter J. Wallison, AEI Press, 2007); Worldwide Financial Reporting (Oxford University Press, 2006, with three co-authors); Financial Statecraft (with Benn Steil, Yale University Press, 2006); and Follow The Money: The Enron Failure and the State of Corporate Disclosure (AEI-Brookings Joint Center for Regulatory Studies, 2003, with 3 co-authors).
Dr. Litan has been a lecturer in banking law at the Yale Law School, consulted for numerous organizations (public and private), and testified as an expert witness in a variety of legal and regulatory proceedings involving domestic (banking, antitrust) and international (primarily trade) issues. He also consulted for private sector firms and the Department of Justice on antitrust matters. Among his various assignments, he has written a number of influential federal reports. He co-authored two Congressionally-mandated studies for the Treasury Department on the role of the Community Reinvestment Act after the Financial Modernization Act of 1999. During 1996-97, he served as a consultant to the Treasury Department and was the lead author of its report to Congress on the future of the financial services industry (American Finance in the 21st Century), and in 1998-99, he was the main author of the Report of President’s Commission to Study Capital Budgeting. In 1998, he also chaired the National Academy of Sciences Committee on Assessing the Costs of Natural Disasters, which produced a report, The Impacts of Natural Disasters: A Framework for Loss Estimation.
Dr. Litan has served in several capacities in the federal government. During 1995 and 1996, he was associate director of the Office of Management and Budget, where he was responsible for overseeing budgetary and other policies of six cabinet agencies. From 1993 to 1995, he was Deputy Assistant Attorney General, in charge of civil antitrust litigation and regulatory issues at the Department of Justice (where among other matters, he supervised the first Microsoft investigation, which resulted in a consent decree; and the investigation against NASDAQ). From 1977 to 1979, he was the regulatory and legal staff specialist at the President’s Council of Economic Advisers. In the early 1990s, Dr. Litan was a member of the Commission on the Causes of the Savings and Loan Crisis.
Dr. Litan received his B.S. in economics (summa cum laude) from the Wharton School of Finance at the University of Pennsylvania; his J.D. from Yale Law School; and both his M. Phil. and Ph.D. in economics from Yale University.
Chairman of the Securities and Exchange Commission
Paul S. Atkins was sworn into office as the 34th Chairman of the Securities and Exchange Commission on April 21, 2025, after being nominated by President Donald J. Trump on January 20, 2025, and confirmed by the U.S. Senate on April 9, 2025.
Prior to returning to the SEC, Chairman Atkins was most recently chief executive of Patomak Global Partners, a company he founded in 2009. Chairman Atkins helped lead efforts to develop best practices for the digital asset sector. He served as an independent director and non-executive chairman of the board of BATS Global Markets, Inc. from 2012 to 2015.
Chairman Atkins was appointed by President George W. Bush to serve as a Commissioner of the SEC from 2002 to 2008. During his tenure, he advocated for transparency, consistency, and the use of cost-benefit analysis at the agency. Chairman Atkins also represented the SEC at meetings of the President’s Working Group on Financial Markets and the U.S.-EU Transatlantic Economic Council. From 2009 to 2010, he was appointed a member of the Congressional Oversight Panel for the Troubled Asset Relief Program.
Before serving as an SEC Commissioner, Chairman Atkins was a consultant on securities and investment management industry matters, especially regarding issues of strategy, regulatory compliance, risk management, new product development, and organizational control.
From 1990 to 1994, Chairman Atkins served on the staff of two chairmen of the SEC, Richard C. Breeden and Arthur Levitt, ultimately as chief of staff and counselor, respectively. He received the SEC’s 1992 Law and Policy Award for work regarding corporate governance matters.
Chairman Atkins began his career as a lawyer in New York, focusing on a wide range of corporate transactions for U.S. and foreign clients, including public and private securities offerings and mergers and acquisitions. He was resident for 2½ years in his firm's Paris office and admitted as conseil juridique in France.
A member of the New York and Florida bars, Chairman Atkins received his J.D. from Vanderbilt University School of Law in 1983 and was Senior Student Writing Editor of the Vanderbilt Law Review. He received his A.B., Phi Beta Kappa, from Wofford College in 1980.
Originally from Lillington, North Carolina, Chairman Atkins grew up in Tampa, Florida. He and his wife Sarah have three sons.
Bernard L. Schwartz Chair in Economic Policy, Brookings Institution
Resident Fellow, American Enterprise Institute
Timothy P. Carney is a resident fellow at the American Enterprise Institute, where he works on economic competition, cronyism, civil society, localism, and religion in America. He is concurrently the commentary editor at the Washington Examiner.
Mr. Carney’s latest book, “Alienated America: Why Some Places Thrive While Others Collapse” (HarperCollins), was published in February 2019. His previous books include “Obamanomics: How Barack Obama Is Bankrupting You and Enriching His Wall Street Friends, Corporate Lobbyists, and Union Bosses” (Regnery Publishing, 2009) and “The Big Ripoff: How Big Business and Big Government Steal Your Money” (John Wiley & Sons, 2006), which was awarded the 2008 Culture of Enterprise award by the Intercollegiate Studies Institute.
In addition to his Washington Examiner columns, Mr. Carney’s work has been published in a variety of magazines, websites, and newspapers, including The Atlantic, New York Post, The New York Times, Reason Magazine, and The Wall Street Journal. His television appearances include CNBC, CNN, Fox News, MSNBC, and the “PBS NewsHour.”
Mr. Carney has a bachelor’s degree from St. John’s College in Annapolis.
Partner, Davis Polk & Wardwell LLP
Mr. Guynn is head of Davis Polk’s Financial Institutions Group. He has been recognized as a thought-leader on financial regulatory reform and as one of the most widely consulted U.S. legal advisers during the financial crisis. See “In the Red Zone,”The American Lawyer, January 2009 and “For Davis Polk, Dodd-Frank Pays,” The American Lawyer, December 2010.
He has advised the Securities Industry and Financial Markets Association (SIFMA), the principal trade organization for U.S. banks, securities firms and asset managers, all of the U.S.’s six-largest banks and several foreign banks on the Dodd-Frank Act and its regulatory implementation.
His practice focuses on providing strategic bank and regulatory and enforcement advice and advising on M&A and capital markets transactions when the target or issuer is a banking organization or other financial institution. He also advises on bank failures and recapitalizations, corporate governance and internal controls, cross-border collateral transactions, credit risk management, securities settlement systems and payment systems.
Director of Research, Bloomberg Government, Bloomberg News
Now Director of Research at Bloomberg Government, Robert E. Litan has had a distinguished career. He had been vice president for Research and Policy at the Ewing Marion Kauffman Foundation in Kansas City, where he oversaw the Foundation’s extensive program for funding data collection and research relating entrepreneurship and economic growth. Dr. Litan also writes frequently with the Foundation’s president, Carl Schramm. Their book, Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity, co-authored with William Baumol, (Yale University Press, 2007) has been translated into ten languages and is used as a college text around the world.
Dr. Litan was also a senior fellow in Economic Studies at the Brookings Institution, where he previously was vice president and director of Economic Studies. During his career, Dr. Litan has authored or co-authored over twenty books, edited another fourteen, and authored or co-authored over 200 articles in journals, magazines, and newspapers on a broad range of public policy issues. His other recent books include: Competitive Equity: Developing a Lower Cost Alternative for Mutual Funds (with Peter J. Wallison, AEI Press, 2007); Worldwide Financial Reporting (Oxford University Press, 2006, with three co-authors); Financial Statecraft (with Benn Steil, Yale University Press, 2006); and Follow The Money: The Enron Failure and the State of Corporate Disclosure (AEI-Brookings Joint Center for Regulatory Studies, 2003, with 3 co-authors).
Dr. Litan has been a lecturer in banking law at the Yale Law School, consulted for numerous organizations (public and private), and testified as an expert witness in a variety of legal and regulatory proceedings involving domestic (banking, antitrust) and international (primarily trade) issues. He also consulted for private sector firms and the Department of Justice on antitrust matters. Among his various assignments, he has written a number of influential federal reports. He co-authored two Congressionally-mandated studies for the Treasury Department on the role of the Community Reinvestment Act after the Financial Modernization Act of 1999. During 1996-97, he served as a consultant to the Treasury Department and was the lead author of its report to Congress on the future of the financial services industry (American Finance in the 21st Century), and in 1998-99, he was the main author of the Report of President’s Commission to Study Capital Budgeting. In 1998, he also chaired the National Academy of Sciences Committee on Assessing the Costs of Natural Disasters, which produced a report, The Impacts of Natural Disasters: A Framework for Loss Estimation.
Dr. Litan has served in several capacities in the federal government. During 1995 and 1996, he was associate director of the Office of Management and Budget, where he was responsible for overseeing budgetary and other policies of six cabinet agencies. From 1993 to 1995, he was Deputy Assistant Attorney General, in charge of civil antitrust litigation and regulatory issues at the Department of Justice (where among other matters, he supervised the first Microsoft investigation, which resulted in a consent decree; and the investigation against NASDAQ). From 1977 to 1979, he was the regulatory and legal staff specialist at the President’s Council of Economic Advisers. In the early 1990s, Dr. Litan was a member of the Commission on the Causes of the Savings and Loan Crisis.
Dr. Litan received his B.S. in economics (summa cum laude) from the Wharton School of Finance at the University of Pennsylvania; his J.D. from Yale Law School; and both his M. Phil. and Ph.D. in economics from Yale University.
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