According to a memo obtained by Reuters, U.S. Securities and Exchange Commission attorneys may be exempt from the Trump administration's request for a list of staff who are potentially subject to mass firings, signaling a possible reprieve for them.
In his initial days in office, the Republican President has been focused on reducing, purging, and restructuring the U.S. federal government. Agency heads have been instructed to pinpoint employees who have served less than two years, as they are more easily dismissible.
The SEC, a crucial agency responsible for regulating the $110 trillion U.S. capital markets and supporting capital formation, seems to be granted special consideration.
An SEC memo dated February 5, revealed that the Office of Personnel Management exempted probationary attorneys from the list of federal employees to be submitted, relieving them from inclusion.
The memo also stressed that all SEC staff have until 11:59 p.m. on Thursday to accept a deferred resignation program following a court extension from a previous deadline set by OPM on January 28.
The buyout initiative, part of Trump and Elon Musk's strategy to downsize the federal workforce, has sparked controversy, with Democrats alleging that the administration is allowing the world's wealthiest individual to exert undue influence over governmental affairs.
The SEC declined to comment on the matter, while OPM has not yet responded to Reuters' inquiry.