US SEC plans to cut regional executives as it prepares to review DOGE

The U.S. Securities and Exchange Commission plans to replace top leaders at regional offices across the country as part of its cost-cutting proposals to the Trump administration, according to two people familiar with the matter. The SEC told the directors of its 10 regional offices on Friday that their positions would be eliminated under plans to be submitted next month, the sources said. The SEC, which oversees more than $100 trillion in U.S. capital markets, is under pressure from Trump to cut staff and cut costs. Some of the administration's cost-cutting efforts involve the newly created Department of Government Efficiency (DOGE) and Musk. Agency leaders have been told to submit proposals for deep spending cuts to the administration.