Why the SEC Is Purging Contractors

The video discusses the impact of contractor cuts on Wall Street regulations, highlighting the increased workload for line attorneys and potential delays in investigations. It also covers the SEC's budget challenges, including a hiring freeze and union constraints, and the implications of Jay Clayton's nomination as SEC chair, focusing on his corporate background and expected priorities.

What challenges does the SEC face in cutting resources while managing a unionized workforce?

In what ways might the SEC's enforcement priorities shift under Jay Clayton?