SEC Chair Says Agency Will Restore Some Jobs After Cuts

Wall Street regulator aims to fill workforce gaps after deep cuts under Trump administration.

Published on Feb. 12, 2026

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The U.S. Securities and Exchange Commission (SEC) is working to restore some of its workforce following last year's deep cuts ordered by the White House, the agency's chair, Paul Atkins, told Congress on Thursday. Atkins rejected accusations that the SEC had dropped enforcement actions against crypto companies with ties to former President Donald Trump, saying the decisions were made before his tenure and mostly concerned failures to register securities.

Why it matters

The SEC's staffing levels have become a point of concern, with critics arguing that the deep cuts could hamper the agency's ability to police markets and respond to crises. Atkins' testimony aims to address these concerns and reassure lawmakers about the SEC's enforcement capabilities.

The details

After taking office in 2021, the Trump administration called for 'large-scale' workforce cuts across the federal government, including at the SEC. The agency offered several rounds of buyouts, resulting in a staff exodus that had depleted some key agency components by nearly 20% as of a year ago. Atkins, who was appointed SEC chair in 2023, said the agency is now working to restore some of those lost positions to fill workforce gaps.

  • In 2021, the Trump administration called for 'large-scale' workforce cuts across the federal government.
  • As of a year ago, the SEC's staff exodus had depleted some key agency components by nearly 20%.
  • Atkins was appointed SEC chair in 2023.

The players

Paul Atkins

The current chair of the U.S. Securities and Exchange Commission, appointed in 2023.

Donald Trump

The former President of the United States, who called for 'large-scale' workforce cuts across the federal government, including at the SEC.

Elon Musk

Former adviser to the Trump administration and co-founder of the Department of Government Efficiency initiative that led to the SEC workforce cuts.

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What they’re saying

“We have gaps in different divisions, so we will fill that.”

— Paul Atkins, Chair, U.S. Securities and Exchange Commission (ksgf.com)

“If the president has pardoned someone or given clemency, then it becomes very difficult.”

— Paul Atkins, Chair, U.S. Securities and Exchange Commission (ksgf.com)

“A lot of these people left voluntarily or through buyouts before I arrived at the SEC, so I'm looking at our numbers of employees, and I think we have a very good group of people in enforcement.”

— Paul Atkins, Chair, U.S. Securities and Exchange Commission (ksgf.com)

What’s next

The SEC is expected to provide more details on its workforce restoration plans in the coming weeks.

The takeaway

The SEC's staffing levels have become a point of concern, with critics arguing that the deep cuts under the Trump administration could hamper the agency's ability to police markets and respond to crises. Atkins' testimony aims to reassure lawmakers that the SEC is working to address these issues by restoring some of the lost positions.