8 hours ago
Last Updated:July 01, 2025, 22:57 IST
Department of Government Efficiency (DOGE) seeks rollback of Biden-era SPAC and data‑sharing rules.
Trump’s DOGE arm nudges SEC to loosen rules on Wall Street’s blank-check firms and private funds. (IMAGE: REUTERS)
US President Donald Trump administration’s drive to cut red tape has prompted the US markets regulator to ease rules for Wall Street, news agency Reuters said in a report. As part of the move, the so-called Department of Government Efficiency (DOGE), blank-check companies which are also known as Special Purpose Acquisition Companies (SPACs) and private investment funds may face fewer disclosure requirements, allowing them to operate with greater confidentiality.
Officials from the SEC’s DOGE arm have recently begun meeting with staff to review and possibly ease regulations that some companies say are overly burdensome. The Reuters report pointed out that the discussions include revisiting rules introduced under former US president that tightened oversight of SPACs and increased data disclosure requirements for private investment advisers to help regulators track systemic risk.
The efforts are part of a broader deregulation push by the Trump administration, which says cutting government oversight will boost growth. In a February executive order, Trump directed DOGE officials across agencies to identify rules that could be eliminated for reasons such as imposing “undue burdens" or high costs on businesses.
However, the Reuters report also said that the officials it spoke to pointed out that DOGE’s role in shaping policy has unsettled some at the SEC and has sparked concerns about a White House initiative influencing the core work of an agency traditionally viewed as independent.
The Biden-era SEC rules on SPACs and private funds were aimed at protecting investors from misleading claims by promoters and curbing unchecked risks to financial stability in the private investment sector.
Taylor Rogers, a White House spokesperson, told the news agency that DOGE was working with the SEC “to more efficiently maintain fair and orderly markets while protecting everyday investors."
“Under President Trump’s leadership, Chairman [Paul] Atkins and the SEC will ensure that the United States remains the best and most secure place in the world to invest and do business."
A spokesperson for the SEC said: “The SEC is working with DOGE to find cost efficiencies and ensure public funds are being used as effectively as possible."
Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev...Read More
Shankhyaneel Sarkar is a senior subeditor at News18. He covers international affairs, where he focuses on breaking news to in-depth analyses. He has over five years of experience during which he has covered sev...
Read More
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Location :Washington D.C., United States of America (USA)
First Published:News business Trump’s DOGE Tells SEC To Go Easy On Wall Street To Boost Growth: Report
