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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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.