SEC Plans to Cut 10 Regional Office Leaders as Part of DOGE-Driven Cost-Cutting Plan
The Securities and Exchange Commission (SEC) plans to remove it from its 10 regional offices as part of a broader cost-cutting program. According to Reuters, directors of the Securities and Exchange Commission (SEC) offices on Friday said their positions will be cancelled as part of a plan to file next month, according to sources familiar with the matter.
The move is part of a part of cost reduction under the Trump administration, which has been focusing on clearing federal agencies and cutting costs. The SEC, which is in charge of the U.S. capital markets, is dealing with the pressure from President Donald Trump to reduce his staff and spending.
SEC leaders were asked to come up with a major budget. As part of the cost cut, a new division led by Elon Musk, who asked federal employees to list their recent achievements or risk of being fired.
As the agency has begun to expand its crypto enforcement efforts, the decision to cancel the regional directors that require approval from the three-person SEC committee.
The SEC has an office from San Francisco to Miami, where officials conduct surveys of listed companies, brokers and investment advisors. These directors played a crucial role in the execution and inspection decisions, making their removal a major change within the agency. SEC leaders will submit restructuring plans, including Acting Chairman Mark Uyeda, and are expected to focus on restructuring operations to improve efficiency.
For this, former SEC lawyer Marc Fagel reacted to this, “It’s almost like the director who was accused of securities fraud and is currently the defendant in an ongoing SEC law enforcement lawsuit. Not completely without conflict to eliminate the effectiveness of SEC. Transparent
