SEC Faces Exodus as 500 Staff Accept Buyouts

The U.S. Securities and Exchange Commission (SEC) is experiencing a significant staff exodus, with approximately 500 employees, including senior staff and enforcement lawyers, accepting buyout offers amid President Donald Trump's government downsizing efforts. This exodus, which represents about 10-12% of the agency's workforce, could hinder the SEC’s ability to effectively oversee markets and protect investors. The buyouts were part of a voluntary separation incentive program that included offers of $50,000 for eligible employees to resign or retire. The deadline for these offers is set for March 21, and further departures are expected as more staff consider the incentives. Areas most affected include the Division of Enforcement and the Office of General Counsel, raising concerns about the agency's operational capacity. The SEC has not commented on the departures, which come in the context of broader efforts by the Trump administration to reduce federal workforce size.