SEC Implements Cost-Cutting Measures, Reorganizing Regional Offices

The Securities and Exchange Commission (SEC) is implementing cost-cutting measures by eliminating regional office directors as part of a reorganization plan. The agency plans to file the new structure in March 2025, according to Reuters sources close to the matter. This move aligns with President Biden’s recent initiatives to reduce federal spending. The SEC’s budget for the fiscal year was approximately $2.6 billion and is reported as deficit-neutral.