Facing possible budget cuts under President Donald Trump, the Securities and Exchange Commission is eliminating dozens of contractors hired to help root out Wall Street fraud, said two people with knowledge of the matter.
The contractors aren't full-time federal employees, but the SEC, which oversees the finance industry, relies on them to help shoulder complex investigations that often lead to trials that can go on for months or years.
The recently eliminated positions include data-entry staff and paralegals, raising concerns within the SEC that the pace of enforcement actions will slow as those responsibilities increasingly fall to career attorneys, said the people, who asked not to be identified because the cuts haven't been publicly announced.
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