Investing.com -- The U.S. Securities and Exchange Commission (SEC) is seeing a significant departure of staff across crucial departments, as hundreds of employees have agreed to leave their positions, according to a Reuters report on Friday. This development comes in response to the push from President Donald Trump and Elon Musk to reshape the U.S. government.

The SEC departures include both senior staff members and enforcement lawyers, a situation that could potentially hinder the agency’s ability to oversee markets and safeguard investors, the report says. These exits are a part of the SEC’s efforts to respond to the demands of Trump and Musk for substantial reductions in federal agencies.

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