Exclusive: DOGE now targeting SEC policy, eyes SPAC rules, sources say
Source: Reuters
July 1, 2025 10:08 AM EDT Updated 9 hours ago
WASHINGTON/NEW YORK, July 1 (Reuters) - President Donald Trump's Department of Government Efficiency initiative has pushed the U.S. markets watchdog to loosen Wall Street rules around blank-check companies and confidential reporting by private investment funds, according to two people familiar with the matter.
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 and unnecessary regulations, including reworking Biden-era rules adopted last year on so-called Special Purpose Acquisition Companies, or SPACs, and requirements that private investment advisers confidentially disclose more data so regulators can better spot systemic risk, the sources said.
The efforts, which have not been previously reported, are part of a broader deregulatory push by the administration, which has said it wants to spur economic growth by slashing government oversight. In a February executive order, Trump directed DOGE officials at federal agencies to identify regulations the administration may seek to eliminate for any of a range of different reasons, such as imposing "undue burdens" or costs on businesses.
But the same sources, who requested anonymity to speak about confidential discussions, said DOGE's involvement in crafting new policy has rankled some SEC officials, raising concerns over whether a White House initiative should be involved in the core work of an agency long seen as independent.
Read more: https://www.reuters.com/legal/government/doge-now-targeting-sec-policy-eyes-spac-rules-sources-say-2025-07-01/
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