Trump's SEC starts shifting agency's focus as job cut threat spooks staff
Source: Reuters
Trump's SEC starts shifting agency's focus as job cut threat spooks staff
Chris Prentice, Douglas Gillison and Lawrence Delevingne
Mon, February 10, 2025 at 6:02 AM AST 6 min read
(Reuters) - A day after the Trump administration sent a missive to all federal employees inviting them to resign, the U.S. Securities and Exchange Commission's acting boss, Mark Uyeda, addressed staff in a packed auditorium at its Washington headquarters.
In his opening remarks, Uyeda did not delve into job security or the staff's worries about the new direction of the agency under the Trump administration, which has criticized what it calls the "weaponization" of the SEC's enforcement functions, according to three SEC officials who listened to the meeting.
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Uyeda did not respond to a request for comment for this article. In November, he told Reuters that the SEC will get "a chance to reset its regulatory agenda to focus on capital formation and innovation," while protecting investors, including senior citizens, from scam artists defrauding them.
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The agency's new leadership has made changes in recent days that start to alter its priorities and how it functions, ranging from a move that centralized power in the hands of Republican-led commissioners to shrinking crypto enforcement, according to more than half a dozen current and former SEC officials.
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Read more: https://finance.yahoo.com/news/trumps-sec-starts-shifting-agencys-100220664.html