The SEC plans to cut regional executives and is preparing to accept scrutiny of DOGE

ChainCatcher news, citing two informed sources from Reuters, reports that the U.S. Securities and Exchange Commission (SEC) plans to replace senior leadership at its regional offices across the country as part of its cost-cutting proposal to the Trump administration. According to the sources, the SEC informed the directors of its 10 regional offices on Friday that their positions would be eliminated based on a plan to be submitted next month. The SEC oversees over $100 trillion of the U.S. capital markets and is currently under pressure from Trump to cut jobs and reduce costs. Some of the government's cost-cutting efforts involve the newly established Department of Government Efficiency (DOGE) and Musk. Agency leaders have been instructed to submit proposals for significant budget cuts to the government.