SEC Partners with Elon Musk's Government Efficiency Task Force

The SEC is collaborating with Elon Musk's Department of Government Efficiency (DOGE) to enhance operations. The partnership involves data access and ethical compliance. This move comes amid SEC staff restructuring. Senators Warren and Warner urge a review of SEC's direction due to potential investor impact.

The U.S. Securities and Exchange Commission (SEC) is set to collaborate with billionaire Elon Musk's Department of Government Efficiency (DOGE), as revealed in an internal email. The SEC aims to partner with DOGE to streamline processes and enhance data access and security compliance, Reuters reported.

This collaboration comes as the SEC undergoes a major restructuring amidst voluntary buyouts and staff reduction, which saw 600 employees exit the agency. The agency's funding comes from transaction fees in the financial sector, keeping its operations cost-neutral for taxpayers.

Senators Elizabeth Warren and Mark Warner have expressed concern over SEC's direction and called for a review by the Government Accountability Office. The SEC's acting Chairman, Mark Uyeda, remains at the helm, while Musk, notorious for his legal clashes with SEC, was not directly available for comment.

(With inputs from agencies.)