SEC enforcement bracing for deep cuts: report

The SEC’s enforcement section is readying for big spending cuts under President Donald Trump, Bloomberg reports.

The department responsible for investigating and enforcing federal securities law has already been told to cease non-essential travel, freeze hiring and stop using external contract assistance for cases, Bloomberg reports, citing unnamed sources.

Read: Will Trump’s deregulation really matter?

Urska Velikonja, law professor at Emory University in Atlanta, tells Bloomberg the SEC is already embodying “a quieter enforcement regime.” She adds: “The number of enforcement cases is likely to be down considerably going forward.”

Read: Trump to halt DoL fiduciary rule, review Dodd-Frank

Read the full story by Bloomberg here.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.