The U.S. Securities and Exchange Commission (SEC) is preparing to eliminate the top leadership positions at its regional offices across the United States, according to sources familiar with the matter. This move is part of the agency’s cost-cutting recommendations being delivered to the Trump administration next month.
On Friday, the SEC informed directors across its ten regional offices that their roles will be eliminated. This plan marks the most recent change at the top of the U.S. markets regulator since Republicans took control. It aligns with a broader effort by Republican President Donald Trump, working with special advisor Elon Musk, to streamline the federal workforce.
The sources requested anonymity because the internal discussions are not public. A spokesperson for the SEC has declined to comment on the matter.
The SEC’s staff is largely based in Washington, D.C., but the agency maintains regional offices, from San Francisco to Miami. These offices handle examinations and investigations of public companies, brokers, and investment advisors within their jurisdictions. Regional directors often oversee investigations and lawsuits in significant cases.
“The regional leadership has always been the source the home office relies on for key decisions about enforcement cases and exams. Removing this layer will be difficult,” stated Andrew M. Calamari, a partner with Finn Dixon & Herling LLP and former director of the SEC’s New York office.
