The U.S. SEC plans to cut regional executives, preparing to undergo DOGE scrutiny

ChainCatcher reports, according to two informed sources cited by Reuters, the U.S. Securities and Exchange Commission (SEC) plans to replace senior leaders in regional offices across the country as part of its cost-cutting proposal submitted to the Trump administration.

Sources say that on Friday, SEC told directors of its 10 regional offices that their positions will be cut under a plan submitted next month. The SEC oversees more than $1 quadrillion in U.S. capital markets and is currently facing pressure from Trump's demands for layoffs and cost cuts. Some government efforts to cut costs involve the newly established Department of Government Efficiency (DOGE) and Musk. Agency leaders have been told to submit proposals for significant spending cuts to the government.