The Securities and Exchange Commission asked staff to send along ideas to help streamline agency operations following the arrival of Elon Musk’s government efficiency group at the regulator.
Eliezer Mishory, the DOGE representative detailed to the agency, “is interested in hearing your ideas for how the SEC can be more efficient and effective in meeting its mission,” agency Chief Operating Officer Ken Johnson said in an email to staff that was reviewed by Bloomberg News.
Any ideas submitted would be sent only to Mishory and would be anonymous, Johnson said. Mishory is the former chief regulatory officer of derivatives exchange Kalshi.
The regulator began its “partnership” with the Department of Government Efficiency a few weeks ago, according to the email.
DOGE’s activities inside the SEC so far have been lower profile than that at many other agencies, where the group’s moves to slash the federal workforce and agency budgets have resulted in mass firings, fights over sensitive data and elimination of some agency functions.
The SEC is working with DOGE to find cost efficiencies and ensure public funds are being used as effectively as possible, according to an agency spokesperson.
The regulator issued a series of weekend posts on the social media platform X on April 5 related to the government efficiency group’s efforts. The posts were described as statements from Acting Chairman Mark Uyeda, “together with recommendations from DOGE,” asking staff to review informal statements from the Biden administration related to the Covid-19 pandemic and digital-asset policies.
“The purpose of this review is to identify staff statements that should be modified or rescinded consistent with current agency priorities,” the final post said.
Some agency officials also pushed back earlier this month on a request from DOGE to gain read and write access to the agency’s contracts, personnel, payments and staff emails, Bloomberg News previously reported. A spokesperson declined to comment on whether that request has since been granted.
Paul Atkins is expected to be sworn in soon as SEC chairman. During his confirmation hearing, Atkins said he was ready to work with DOGE on “creating efficiencies in the agency.”
The SEC is funded primarily through transaction fees it collects from broker-dealers and other companies that register with the agency, which has prompted some to question whether it is a good agency to target for spending cuts.
