When Wall Street bond dealmakers congregated in Las Vegas lastweek for their annual get-together, one group of folks wasconspicuously absent: SEC enforcement officials.

For years now, they've been crashing the marquee event, trying,somewhat awkwardly, to mingle and make industry contacts whilesniffing around for their next big case. But those plans werescuttled this year when word came down from SEC headquartersrecently that there was no room in the budget for investigators toattend.

The measure is part of a series of cuts that the enforcementdepartment — the division responsible for policing federalsecurities laws — is implementing as it braces for deep spendingreductions in President Donald Trump's budget proposal, accordingto two people with knowledge of the matter. In addition to the banon nonessential travel, the department has also imposed a hiringfreeze and curbed the use of outside contractors who assist SEClawyers with cases.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.