DOGE expands presence at Wall St regulator, sources say

Douglas Gillison and Chris Prentice

Fri, May 2, 2025, 7:00 AM 1 min read

By Douglas Gillison and Chris Prentice

(Reuters) -Presidential advisor Elon Musk's Department of Government Efficiency (DOGE) is expanding its beingness astatine the U.S. Securities and Exchange Commission by adding a 3rd unit member, according to radical acquainted with the matter.

Since March DOGE has been scrutinizing bureau contracting and organizational charts for much imaginable cuts and restructuring. The SEC has shed astatine slightest 16% of its staff, mostly done the Trump administration's voluntary buyouts.

The SEC and the White House did not reply circumstantial questions from Reuters. The SEC repeated anterior statements that it was co-operating with DOGE to find outgo savings portion the White House said newly-installed Chairman Paul Atkins was committed to maintaining "fair, orderly, and businesslike markets portion protecting mundane investors."

Led by Elie Mishory, a erstwhile apical lawyer astatine the prediction markets institution Kalshi, DOGE's unit astatine the SEC has since been joined by Jonathan Mendelson, according to 2 of the sources. Mishory reports to Chair Atkins' office, according to interior records seen by Reuters.

Mishory and Mendelson did not instantly respond to requests for comment.

During confirmation testimony, Atkins told the Senate helium would enactment with DOGE to make efficiencies. Since President Donald Trump returned to power, the White House has slashed the national workforce successful a bid to trim what it says is wasteful spending.

The unit exodus truthful acold has depleted divisions that oversee oversight functions astatine the regulator, prompting interest from immoderate observers that the losses volition hinder the SEC's show successful detecting fraud and promoting fiscal stability.

(Reporting by Douglas Gillison successful Washington and Chris Prentice successful New York; Editing by Freya Whitworth)