Big News: SEC Plans to Cut 10 Regional Office Leaders as Part of DOGE-Driven Cost-Cutting Plan

The U.S. Securities and Exchange Commission (SEC) plans to remove the top leaders at its 10 regional offices as part of a broader cost-cutting initiative. As reported by Reuters, according to sources familiar with the matter, the SEC informed directors across these offices on Friday that their positions will be eliminated as part of a plan set to be submitted next month.

This move is part of a larger push for cost reductions under the Trump administration, which has been focused on purging federal agencies and cutting expenses. The SEC, which oversees the U.S. capital markets, is responding to pressure from President Donald Trump Donald Trump   Donald J. Trump is a US-based business tycoon,  pro-crypto politician, and 47th (present) President of the United States. He comprehends the significance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto politician.   Once doubtful about Bitcoin's dominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his pool. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Famous For Business, Politics   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Slammed crypto king Bitcoin on X, calls it "not money".   2025 – A gala party was hosted by him for the top 220 Trump meme coin holders.   President to reduce staff and expenses.

SEC leaders have been asked to suggest major budget cuts. As part of cost-cutting, a new department DOGE, led by Elon Musk is involved, and Musk has demanded federal employees list their recent accomplishments or risk being fired. 

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Trump’s Budget Cuts Reshape SEC

The decision to eliminate the regional directors, which requires approval from the three-person SEC commission, comes as the agency has already started scaling back its crypto enforcement efforts.

The SEC has offices from San Francisco to Miami, where officials lead investigations into public companies, brokers, and investment advisers. These directors play a crucial role in enforcement and examination decisions, making their removal a significant change within the agency. The reorganization plan will be submitted by SEC leaders, including Acting Chairman Mark Uyeda, and is expected to focus on restructuring operations to improve efficiency.

Reacting to the same, former SEC lawyer Marc Fagel said,

“It’s almost like the head of DOGE, previously charged with securities fraud and currently the defendant in an ongoing SEC enforcement action, isn’t entirely free of conflicts in dismantling the SEC’s effectiveness.”