Exclusive: DOGE now targeting #SEC policy, eyes #SPAC rules
#Trump's #DOGE initiative has pushed the US #markets watchdog to loosen #WallStreet rules around blank-check companies & confidential reporting by private investment funds….
#law #regulations #fraud
https://www.reuters.com/legal/government/doge-now-targeting-sec-policy-eyes-spac-rules-sources-say-2025-07-01/
#DOGE officials at the #SEC, who have so far focused on cutting costs, have in recent weeks sought meetings with staff to explore relaxing what some companies have described as burdensome & unnecessary #regulations, including reworking #Biden-era rules adopted last year on so-called Special Purpose Acquisition Companies, #SPAC, & requirements that private investment advisers confidentially disclose more data so regulators can better spot systemic risk….
The efforts, which have not been previously reported, are part of a broader #deregulatory push by the #Trump admin, which has said it wants to spur economic *growth* [#fraud] by slashing government #oversight.
In a February executive order, Trump directed #DOGE officials at #FederalAgencies to identify #regulations the admin may seek to eliminate for any of a range of different reasons, such as imposing "undue burdens" or costs on businesses.
But sources… said #DOGE's involvement in crafting new #policy has rankled some #SEC officials, raising concerns over whether a #Trump initiative should be involved in the core work of an agency long seen as #independent.
Under the #Biden admin, the SEC adopted the #SPAC & private funds #regulations to protect investors from potentially unscrupulous claims by investment promoters & prevent the unchecked buildup of risks to financial stability in the private funds sector.
…To be sure, the #SEC is led by a presidentially appointed chairman who guides the agency's #regulatory agenda, making it rare for the agency to depart drastically from White House priorities….
But the SEC, like other #financial regulators, has long been treated as #independent from the WH — both through #legal protections & decades of norms…. The agency has traditionally limited communications w/the WH over rules to avoid political interference, or the appearance of it.
But #Trump & key players in his admin have taken a view that these agencies should be under direct supervision of the WH & Trump has fired officials who say they are legally shielded from dismissal in most cases.
Amanda Fischer, policy director and chief operating officer at #financial reform advocacy group Better Markets, said any #DOGE involvement in #SEC rulemaking raises serious concerns about potential #ConflictsOfInterest & #political #influence overriding staff expertise.
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