
“The new commission is going to be mindful of not wanting to appear to be doing the bidding of the president’s best buddy,” said David Rosenfeld, a former SEC enforcement attorney. “It’s always possible that they come in and say, ‘You were nuts to do this and we’re going to upend the apple cart.’ But I highly doubt it.” The lawsuit sets up an early test of how Trump’s pick to chair the SEC — Paul Atkins — would navigate potential clashes with the incoming president’s allies as the top...