Exclusive: US Securities and Exchange Commission reportedly starting to hire DOGE staff, according to email
The U.S. Securities and Exchange Commission has initiated the process of integrating officials from Elon Musk’s Department of Government Efficiency (DOGE), as per an email sent to department staff on Friday. The SEC staff was notified through an email that the DOGE task force had reached out to the SEC, and they would be considered part of the staff for network, system, and data access purposes. An email reviewed by Reuters indicated that the SEC is forming a liaison team with the aim to collaborate with DOGE.
“Our intent will be to partner with the DOGE representatives and cooperate with their request following normal processes for ethics requirements, IT security or system training, and establishing their need to know before granting access to restricted systems and data,” the staff email outlined. A spokesperson from the SEC verified the commencement of onboarding DOGE members. However, a representative from the DOGE task force did not provide immediate comments on the matter.
Being the leading markets regulator in the nation, the SEC has access to a significant amount of nonpublic information from banks, public entities, private funds, and more, including sensitive data regarding initial public offerings and supervisory examination records. The email from SEC staff indicated that they anticipate DOGE officials to primarily engage through the SEC’s liaison team. Yet, staff might also be reached out to directly. In such instances, staff members were instructed to “respond courteously,” collect information about any DOGE inquiries, but to avoid disclosing substantial information without consulting the SEC’s liaison team.
The development of integrating DOGE officials with the U.S. Securities and Exchange Commission underscores a preliminary step towards a potential collaboration between the SEC and Elon Musk’s Department of Government Efficiency. This strategic move implies a profound partnership between the regulatory body and an external entity to enhance operational cohesion and information flow in the realm of financial oversight and governance.
The anticipation is that through this partnership, the SEC can leverage the expertise and resources of DOGE officials to bolster its capabilities in monitoring and regulating various financial sectors, ranging from public companies to private institutions. The liaison team set up by the SEC signifies a proactive approach to engage with the DOGE task force, highlighting the significance of streamlined communication channels and adherence to established protocols for data security and access.
In summary, the SEC’s initiative to onboard DOGE officials marks a pivotal development in fostering inter-agency collaboration and knowledge-sharing within the regulatory landscape. As the liaison process progresses, it is expected that this alignment between the two entities will pave the way for enhanced regulatory oversight and operational efficiency in ensuring market integrity and investor protection.