Realignment for SEC

[Anonymous]

I think he has spent his entire career criticizing what others are doing. He’s never actually executed something himself. He’s sort of starting to build up some staff but they are so far behind it may not matter. In some areas where they want to do rulemaking there are one or two staff left to do it. Sure they can reshuffle people around but they don’t have enough people working for him who know how things work down in the trenches to do that.

And as PP’ers point out staff is working at reduced strength because of the lack of telework. If they want people firing on all cylinders, they are going to have to allow regular telework. But Atkins thinks people are more productive in the office and apparently what he thinks overrides legislation, a union contract and decades of experience with telework at the agency.

[Anonymous]

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Anonymous wrote:Dr Oz gave CMS one day a week of telework (two days per pay period). It was done without any union involvement. If he could figure it out in an agency that’s under RFK, PA could absolutely give some telework back to staff.

Of course he could.

As he indicated in testimony last week, all these changes happened before he got there. His hands are tied.

His hands are so tied he isn’t even able to do anything since he started.

So true. It is insane.

He is a fraud.

More staff will leave. We won’t be able to recruit same level of candidates. Shit will hit the fan some years down the road. And I will be there helping put together the puzzle of what went wrong. A puzzle that will be PA’s headshot.

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Agreed, both on the leaving and recruitment.

Everyone is waiting for the TW appeal decision sometime next week. I think we will see people who have been barely making it choose leave if the lack of recurring TW goes on indefinitely, it will break them. The agency has had extended recurring telework for two decades. The change is jarring and not what the vast majority of the agency’s workers expected or were told when they were hired. It’s a mess.

I agree that the impact of this will not be felt for a while, but it is coming. There are many private companies doing RTO also, but people will start to look for a better commute, if they haven’t already. At some point the work life balance and mission will be outweighed by agency location and stress of commute.

I'm leaving so I don't give a $hit at this point so I hope another Madoff type event slips under the SEC's radar - another public embarrassment type thing that takes years to recover from. I mean it isn't the brightest lights in the harbor that work there any way, the brighter people have resigned/retired, and the rest are too tired from their commute to pay attention to anything so shrug.

They can’t attract talent already. That CorpFin rule writer temp/13 months role application deadline was extended earlier this week, according to SEC’s LinkedIn page. I guess the “glut” of highly qualified applicants wasn’t enough!

With all the relief PA and his team are granting to the crypt industry, the next crisis will be much bigger than Madoff. It is already happening.

Agreed. The next big Madoff miss will be something having to do with crypto and it won’t be a miss by enforcement staff, it will be something enforcement did not have the ability to investigate becuase of crypto. Some folks in congress actually realize this too, evidenced by the questions when PA testified last week.

PA doesn’t care, whether it’s withholding telework for no good reason or taking the job to execute Trump’s crypto agenda - he knows that this administration will win without compunction, even when investors lose.

I am actually questioning why Atkins actually took the job. He has no agenda, no vision, no leadership within his ranks, no one who knows how to execute. At this point I think he took on the role just to have a title and then go mingle with the crowd sipping martinis in closed clubs. The guy is all buzzwords and pointless speeches. In the meantime, Rome is burning, fraud is happening, SEC staff clock in and out just to catch that train or beat the traffic to get home because RTO has been so awesome.
The agency is down to three commissioners, almost two at this point, with no dissent. OHR and OGC is weaponized to quietly retaliate against the few who call out the inefficiencies of this regime.
Good luck to all the investors and the markets. We will all need it.

Care to share any support for your view that OHR and OGC is weaponized to retaliate? I work in one of those offices and I haven’t seen or heard anything like that.

[Anonymous]

Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

[Anonymous]

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

This discussion has come full circle to its original title

As far as you know is there still a talk for a realignment? Or are we “done” with it (since nothing has been changed but OIT)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

This discussion has come full circle to its original title

As far as you know is there still a talk for a realignment? Or are we “done” with it (since nothing has been changed but OIT)?

All of the divisions are currently undergoing reorganizations. I think the division plans are currently with OHR for final approval of the crosswalks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

This discussion has come full circle to its original title

As far as you know is there still a talk for a realignment? Or are we “done” with it (since nothing has been changed but OIT)?

All of the divisions are currently undergoing reorganizations. I think the division plans are currently with OHR for final approval of the crosswalks.

BS. They’re not going to do massive reorgs in the middle of an ambitious rulemaking agenda.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

This discussion has come full circle to its original title

As far as you know is there still a talk for a realignment? Or are we “done” with it (since nothing has been changed but OIT)?

All of the divisions are currently undergoing reorganizations. I think the division plans are currently with OHR for final approval of the crosswalks.

BS. They’re not going to do massive reorgs in the middle of an ambitious rulemaking agenda.

lol. I want to see how these dudes at the CFTC and SEC actually pull off their “ambitious rulemaking agenda.” One year into Trump and they haven’t even gotten started at all and don’t have any “market structure” legislation yet anyway. With staff working only 40 hrs/week due to the lack of telework, and severely short staffed, good luck. I wonder if they will just hire a MAGA law firm to write regs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

This discussion has come full circle to its original title

As far as you know is there still a talk for a realignment? Or are we “done” with it (since nothing has been changed but OIT)?

All of the divisions are currently undergoing reorganizations. I think the division plans are currently with OHR for final approval of the crosswalks.

BS. They’re not going to do massive reorgs in the middle of an ambitious rulemaking agenda.

I didnt say it was a massive reorg. They are definitely re-balancing the working groups to account for the Fork and VERA departures. The other thing they are doing is making sure the manager ratios are very close to the OPM recommendation of 1:6. Apparently some of the divisions are really off from that ratio which is why they offered that manager only VERA last year.

[Anonymous]

The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

[Anonymous]

Anonymous wrote:The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

You are grasping at straws here. Legal filings are almost always made the day of the deadline (often very late in the day) and there is no reason why the agency would act before the deadline. And, unless you are GG, you probably have no idea whether there have been any discussions with the union.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

You are grasping at straws here. Legal filings are almost always made the day of the deadline (often very late in the day) and there is no reason why the agency would act before the deadline. And, unless you are GG, you probably have no idea whether there have been any discussions with the union.

I think they have until tomorrow. Wonder if they are gonna tell staff they appealed. And how much longer people are going to stay polite with the chairman now that unions have gathered a bunch of arbitration wins.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

You are grasping at straws here. Legal filings are almost always made the day of the deadline (often very late in the day) and there is no reason why the agency would act before the deadline. And, unless you are GG, you probably have no idea whether there have been any discussions with the union.

According to my union steward, the union is not engaged in discussions with the agency. The union feels this is a strong win and wants to see the litigation through the long process to secure a win.

[Anonymous]

Anonymous wrote:Not the previous poster.

The only punitive action I know of is the reassignment of an Enforcement senior counsel to chief counsel of OIT.

(Considering how awfully our hardware and software function, that attorney may have been able to do truly good work for the agency.)

There were more. Pretty much anyone working on crypto matters, be it enforcement or the SAB, etc. was “reassigned” until they left a few weeks/months later.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

You are grasping at straws here. Legal filings are almost always made the day of the deadline (often very late in the day) and there is no reason why the agency would act before the deadline. And, unless you are GG, you probably have no idea whether there have been any discussions with the union.

According to my union steward, the union is not engaged in discussions with the agency. The union feels this is a strong win and wants to see the litigation through the long process to secure a win.

Your steward doesn’t know what they are talking about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The best part about the arbitration is that administration is waiting until the last possible day to notify the union of its appeal. They need an extra 30 days on top of the 12-18 months they’re buying with an appeal.

I agree with everyone who said there will be a mass exodus. I think it will be a lot of women who leave first, probably leaving the workforce entirely because the job market sucks and the SEC sucks for women now. It used to attract high quality women becuase of the flexibility.

You are grasping at straws here. Legal filings are almost always made the day of the deadline (often very late in the day) and there is no reason why the agency would act before the deadline. And, unless you are GG, you probably have no idea whether there have been any discussions with the union.

According to my union steward, the union is not engaged in discussions with the agency. The union feels this is a strong win and wants to see the litigation through the long process to secure a win.

Your steward doesn’t know what they are talking about.

Sorry, I should have said that information was a few weeks ago. If they are in fact negotiating or having any discussions about telework, I’d be thrilled. I am one of those who is riding the struggle bus towards unemployment.