DOGE expands presence at Wall St regulator, sources say
May 2 (Reuters) - Presidential adviser Elon Musk's Department of Government Efficiency (DOGE) is expanding its presence at the U.S. Securities and Exchange Commission by adding a third staff member, according to people familiar with the matter.
Since March DOGE has been scrutinizing agency contracting and organizational charts for more possible cuts and restructuring. The SEC has shed at least 16% of its staff, largely through the Trump administration's voluntary buyouts.
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The SEC and the White House did not answer specific questions from Reuters. The SEC repeated prior statements that it was co-operating with DOGE to find cost savings while the White House said newly-installed Chairman Paul Atkins was committed to maintaining "fair, orderly, and efficient markets while protecting everyday investors."
Led by Elie Mishory, a former top lawyer at the prediction markets company Kalshi, DOGE's staff at the SEC has since been joined by Jonathan Mendelson, according to two of the sources. Mishory reports to Chair Atkins' office, according to internal records seen by Reuters.
Mishory and Mendelson did not immediately respond to requests for comment.
During confirmation testimony, Atkins told the Senate he would work with DOGE to create efficiencies. Since President Donald Trump returned to power, the White House has slashed the federal workforce in a bid to reduce what it says is wasteful spending.
The staff exodus so far has depleted divisions that oversee oversight functions at the regulator, prompting worry from some observers that the losses will hinder the SEC's performance in detecting fraud and promoting financial stability.
Reporting by Douglas Gillison in Washington and Chris Prentice in New York; Editing by Freya Whitworth
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Chris Prentice
Thomson Reuters
Chris Prentice reports on financial crimes, with a focus on securities enforcement matters. She previously covered commodities markets and trade policy. She has received awards for her work from the Society for Advancing Business Editing and Writing and the Newswomen's Club of New York.
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