On July 1, 2025, reports emerged that the Department of Government Efficiency (DOGE), an initiative under President Donald Trump, has shifted its focus to influence U.S. Securities and Exchange Commission (SEC) policies. According to two sources familiar with the matter, DOGE officials have recently sought meetings with SEC staff to explore loosening regulations, including rules on Special Purpose Acquisition Companies (SPACs) and confidential reporting requirements for private investment advisers. The effort builds on DOGE’s prior focus on cost-cutting, with officials now targeting Biden-era regulations adopted last year, which some companies view as burdensome. The SEC has confirmed collaboration with DOGE to enhance cost efficiencies, though specific changes remain under discussion. This move follows DOGE’s broader mandate to streamline government operations, established via an executive order on January 20, 2025. Separately, investigations into DOGE’s access to sensitive data across seven federal agencies, including NASA and the Labor Department, have revealed that staff reviewed thousands of contracts and workplace investigation files, potentially benefiting Elon Musk’s companies like SpaceX. Legal challenges persist, with courts evaluating DOGE’s data access, while the initiative estimates potential savings of up to $100 million annually from cuts like the termination of nearly 3,000 government phone lines, saving $2.84 million yearly. The SEC and White House have not provided additional comments, and further outcomes depend on ongoing reviews.
34news.online
34news.online
