Internet reports that according to two people familiar with the matter, the Securities and Exchange Commission (SEC) plans to replace senior leaders in regional offices across the country as part of its cost-cutting recommendations to the Trump administration. Sources said the SEC said on Friday to directors of its 10 regional offices that their positions would be eliminated under plans to be submitted next month. The SEC oversees more than $100 trillion in U.S. capital markets and is currently under pressure from Trump to lay off workers and cut costs. Some of the government's cost-cutting efforts involve the newly created Department of Government Efficiency (DOGE) and Musk. Agency leaders have been told to submit proposals for deep spending cuts to the government.