US Senators Question SEC Why Its Staff Is Quitting at Highest Pace in 10 Years
Six U.S. senators have questioned the Securities and Exchange Commission (SEC) why its staff is quitting at a record pace. “Efforts to ram through hurried rulemaking without proper analysis, deliberation or consideration of downstream negative impacts is nothing short of regulatory malpractice,” the lawmakers told SEC Chair Gary Gensler. SEC Staff Leaving at Record Pace Six U.S. senators have reportedly sent a letter to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, inquiring why the securities watchdog’s employees are quitting at a record rate. The private letter, dated Oct. 27, was signed by senators Thom Tillis (R-NC), Mike Crapo (R-ID), Tim Scott (R-SC), Michael Rounds (R-SD), Bill Hagerty (R-TN), and Steve Daines (R-MT), Reuters reported, noting that it has seen the letter. The Republican senators want the SEC to explain why its staff is leaving the agency at the highest pace in 10 years. The lawmakers referenced a public repo...