The main SEC group responsible for policing Wall Street has hired only five new staffers despite losing more than three dozen since the waning days of the Obama administration, according to a Bloomberg Law review of agency records.
The Enforcement Division departures — the most in any Securities and Exchange Commission group — come amid a hiring freeze and a drop in enforcement actions. The annual tally of enforcement actions the commission compiles each fall was down 13 percent in 2017, after a string of increases beginning in 2014.“The SEC is a human capital agency,” SEC Commissioner Robert Jackson, a Democratic-leaning independent, said in a statement to Bloomberg Law. “Our people are our most valuable asset. The tragedy of these reductions in staff is that it means fewer investigations, fewer actions, and, ultimately, fewer dollars returned to investors.”
‘Enforcement 40’ for 2020
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