The U.S. Securities and Exchange Commission (SEC) is starting to bring on officials from Elon Musk’s new Department of Government Efficiency (DOGE). An email sent to SEC staff on Friday confirmed that the DOGE task force has reached out to the SEC, and these officials will be treated like SEC staff regarding access to networks, systems, and data.
The SEC is setting up a liaison team to collaborate with DOGE. This partnership aims to ensure that all requests from DOGE follow the usual processes for ethics, IT security, and system training. The email emphasized that SEC staff should gather information about any requests from DOGE but should not share any significant information without consulting the liaison team first.
A spokesperson for the SEC verified that they are onboarding DOGE members, but it remains unclear what specific role Musk will have at the agency. The SEC is currently led by acting Chairman Mark Uyeda, while President Trump’s nominee to head the agency, Paul Atkins, has expressed his willingness to work with Musk’s team on improving efficiencies at the SEC if confirmed.
This development comes at a time when the SEC is undergoing significant changes, including a reduction in staff. Over 600 employees, about 12% of the agency, have opted for voluntary buyouts as part of restructuring efforts. The SEC’s budget is funded through transaction fees from the financial sector, meaning it does not directly cost taxpayers.
Musk’s relationship with the SEC has been rocky. He has faced legal issues with the agency in the past, including a lawsuit in January for not disclosing his stake in Twitter (now X) in a timely manner. Musk has criticized the SEC, calling it a "totally broken organization" and has had ongoing disputes since 2018 when he was sued for misleading tweets about taking Tesla private.
As DOGE officials prepare to work with the SEC, they will primarily interact through the newly formed liaison team. This partnership marks a new chapter in the SEC’s approach to efficiency and oversight, though many are watching closely to see how it unfolds.