Elon Musk’s Department of Government Efficiency (DOGE) has turned its sights on the U.S. Securities and Exchange Commission (SEC) as part of its sweeping cost-cutting initiative. A source who spoke on condition of anonymity told Politico DOGE were "at the gates"
Musk, who has repeatedly clashed with the SEC, including in a recent lawsuit alleging he underpaid Twitter stock investors by $150 million, called the agency “totally broken.”
The White House now claims Musk is not "technically" in charge of the department but is merely advising the president and that he "plays no direct role in the work of those working across the administration to identify, expose, and uproot waste, fraud, and abuse."
This position seems at odds with his very public role in setting up the department.
— Elon Musk (@elonmusk) February 17, 2025
Democrats, including Rep. Maxine Waters, fear Musk could misuse sensitive SEC data, such as the Consolidated Audit Trail, a vast trading surveillance system.
Acting SEC Chair Mark Uyeda will lead until Trump’s nominee, Paul Atkins, is confirmed. The White House stated Musk will recuse himself from conflicts. DOGE has also sought access to sensitive data from other agencies, including the IRS and the Department of Education.