The heat is on for newly confirmed SEC chairman Paul Atkins to crack down on Chinese companies

New York Post - Apr 12th, 2025
Open on New York Post

Paul Atkins, nominated by President Trump as the new chairman of the Securities and Exchange Commission (SEC), narrowly secured his confirmation with 52 votes after committing to investigate Chinese companies for alleged violations of US disclosure laws. This promise came during a tense exchange with GOP Senator Rick Scott, who conditioned his confirmation vote on Atkins' commitment to such scrutiny. The implications are significant, as nearly 300 Chinese companies, valued over $1 trillion, could face delisting from US exchanges like the NYSE and Nasdaq if found in violation.

The backdrop to this development is the longstanding controversy surrounding Chinese companies' presence in US markets, fueled by concerns over military and economic dominance, lack of transparency, and human rights abuses. Previous attempts to address these issues were hindered by the Biden administration, but with Trump back in office, the initiative gains momentum. This move, driven largely by Senator Scott, raises questions about US-China economic relations and the transparency and accountability of foreign companies operating in the US. Major US exchanges are now in a challenging position, balancing lucrative listings with regulatory compliance and political pressure.

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RATING

5.0
Moderately Fair
Read with skepticism

The article addresses a timely and significant topic, focusing on the potential regulatory changes affecting Chinese companies on US exchanges. It highlights the efforts of Sen. Rick Scott and the confirmation of Paul Atkins as SEC chairman, suggesting a shift in policy direction. However, the story lacks balance and transparency, as it does not provide diverse perspectives or clear sourcing for its claims. The absence of direct evidence and comments from key stakeholders affects the accuracy and credibility of the reporting. Despite these weaknesses, the article remains relevant to public interest and has the potential to influence discussions about economic and national security concerns. Overall, the story is informative and engaging, but would benefit from more comprehensive sourcing and a balanced presentation of viewpoints.

RATING DETAILS

6
Accuracy

The story presents several claims that require verification, such as Paul Atkins' confirmation as SEC chairman with a 52-44 vote and his commitment to investigate Chinese companies. While it is plausible, the lack of direct quotes or references to official confirmation processes weakens the factual foundation. Additionally, the article mentions nearly 300 Chinese companies on US exchanges, which is a significant claim that necessitates precise verification. The narrative about the Biden administration allegedly stymying efforts to crack down on Chinese companies is not substantiated with direct evidence or sources, which further affects the accuracy. Overall, the story contains a mix of potentially verifiable facts and speculative claims that need further evidence.

5
Balance

The article predominantly presents a perspective critical of Chinese companies and the previous administration's handling of these issues. It highlights Sen. Rick Scott's efforts and the potential crackdown on Chinese firms, but it lacks a balanced view by not including counterarguments or perspectives from Chinese companies or the exchanges involved. The absence of comments from the Biden administration or other stakeholders creates an imbalance, as it does not fully explore the complexity of the issue from multiple angles. This one-sided narrative could lead to a perceived bias against Chinese companies and the current administration.

7
Clarity

The article is generally clear in its language and structure, presenting its main points in a straightforward manner. The narrative is logically organized, with a clear introduction, body, and conclusion. However, the lack of specific details and supporting evidence for some claims can lead to confusion about the validity of the information. The tone is neutral, but the absence of diverse perspectives may affect the overall clarity of the issue's complexity.

4
Source quality

The article does not provide clear attributions to credible sources for its claims, relying instead on unnamed congressional sources and general statements. The lack of direct quotes or references to official documents, such as confirmation hearings or legislative texts, diminishes the reliability of the reporting. The absence of comments from key figures like Gary Gensler or representatives from the exchanges further undermines the credibility. The story would benefit from incorporating a diverse range of authoritative sources to strengthen its foundation.

3
Transparency

The article lacks transparency in its sourcing and methodology, as it does not disclose how information was obtained or provide clear attributions for its claims. The reliance on unnamed sources and the absence of a clear explanation of how conclusions were reached make it difficult for readers to assess the validity of the information presented. Additionally, the article does not address potential conflicts of interest or biases that may affect the reporting, which further impacts transparency.

Sources

  1. https://www.foxbusiness.com/politics/senate-confirms-trumps-sec-chair-pick-paul-atkins
  2. https://qresear.ch/?q=washington
  3. https://www.napa-net.org/news/2025/4/atkins-confirmed-by-senate-to-be-sec-chair/
  4. https://www.banking.senate.gov/newsroom/majority/scott-applauds-paul-atkins-confirmation-as-sec-chairman
  5. https://www.thestreet.com/crypto/markets/trumps-associates-welcome-pro-crypto-paul-atkins-as-new-sec-chair