President Trump's Department of Government Efficiency initiative has pushed the U.S. markets watchdog to loosen Wall Street rules around blank-check companies and confidential reporting by private investment funds, according to two people familiar with the matter.
DOGE officials at the SEC, who have so far focused on cutting costs, have in recent weeks sought meetings with staff to explore relaxing what some companies have described as burdensome and unnecessary regulations, including reworking Biden-era rules adopted last year on so-called Special Purpose Acquisition Companies, or SPACs, and requirements that private investment advisers confidentially disclose more data so regulators can better spot systemic risk, the sources said.
The efforts, which have not been previously reported, are part of a broader deregulatory push by the administration, which has said it wants to spur economic growth by slashing government oversight.
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