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Stories of Interest
- Deutsche Bank ‘Beyond Repair’ as Trading Drops - Autonomous Research
- Guggenheim Partners CEO Might Step Down
- Wachovia Customer Sues Wells Fargo Over FundSource Losses - Bill Singer
- Credit Downgrade for Wells Fargo Due to Fake Account Scandal
- CFTC Commissioner Quintenz Named Sponsor of the Technology Advisory Committee
- Harbour and Geneos Customers Win FINRA Arbitration Against Stockbroker - Bill Singer
- Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed
- The World’s Biggest Wealth Fund Hits $1 Trillion
- At Jefferies, Like Wall Street, Trading Cedes to Banking
- Ex-SAC Trader Who Pleaded Guilty to Insider Trading Just Remembered He’s Innocent
- JPMorgan Turns to Amazon for Retail 'Customer Experience'
- Goldman Sachs Names Ken Hitchner as New Chairman for Asia Pacific
- Judge All but Tosses SEC Case Against ‘Rogue’ Trader And Ex-FBI Informant Guy Gentile
- 'Boys are #1 Among NFL's Most Valuable Teams
- Fake Tax Returns - Your Next Worry After the Equifax Breach
- FINRA DR Recruiting Arbitrators, Mediators at Congressional Black Caucus Conference
- JPMORGAN: Here's who we think will replace Warren Buffett at Berkshire Hathaway
- Mueller to Search Facebook for Russia-Linked Accounts
- Mark Gomes, Market Analyst and Trade Scalper Settles with SEC
- Equifax Waives Credit Lock Fees For Consumers, Amid Criticism
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NEWSLETTERS & ALERTS
Trump Lifting Federal Hiring Freeze - Will SEC and CFTC Ever Hire Again?
Donald Trump signed a Presidential Memorandum that lifts the federal hiring freeze while calling upon agencies, like the SEC and CFTC, to rethink how they operate and hire personnel. The Order, which goes into effect on Thursday, 4/13, seeks to establish hiring targets that align with the Trump administration’s proposed budget introduced last month. That budget, which has not been ratified, already faces opposition in Congress, and many programs that are targeted could only be eliminated through legislation.
That said, the SEC and the CFTC are short-handed and severely constrained. For all intents and purposes, neither agency has done any hiring since November. [Click here for the last 2 SEC jobs posted – Financialish, 11/23]
Meanwhile, neighboring regulator FINRA has been hiring away – and those job opening have been on full display on Financialish.com. [Click here for the latest postings – Financialish, 4/12] Listed jobs include directors, examiners, analysts, attorneys, project managers, and programmers. All this would indicate that securities regulators are still in great need of qualified personnel.
However, this may be one time where the axiom – “Where there’s a will, there’s a way” – will not happen. And, frankly, how can the SEC and the CFTC be expected to proceed with identifying their personnel needs each agency lacks a permanent Chair? Well, at least the CFTC is headed by Acting Chair Christopher Giancarlo - though he has often stated the need for a full panel of commissioners before the CFTC can move ahead with a viable agenda.