The U.S. Securities and Exchange Commission (SEC) is integrating officials from the Department of Government Efficiency (DOGE) as part of a broader initiative to enhance operational effectiveness and streamline processes within federal agencies. This move aligns with President Donald Trump's executive order establishing the DOGE, aimed at modernizing federal technology and maximizing governmental efficiency.
Elon Musk's involvement with DOGE has raised concerns among lawmakers. House Democrats Maxine Waters and Brad Sherman have urged the SEC's acting chair to safeguard the agency's data from potential misuse by DOGE, highlighting risks of market manipulation and loss of investor confidence.
Additionally, the Trump administration has issued an executive order requiring independent regulatory agencies, including the SEC, to report new policy priorities to the White House for approval, emphasizing presidential supervision over the executive branch.
These developments indicate a significant restructuring within the SEC, aiming to improve efficiency while raising concerns about the agency's independence and the security of sensitive financial data.