SEC internal investigator leaves a month after raising staff retention issues

SEC internal investigator leaves a month after raising staff retention issues

Nicholas Padilla, the acting Inspector General of the Securities and Exchange Commission, left the agency after 38 years of federal service. The Securities and Exchange Commission lost its incumbent inspector general a month after he raised retention issues at the agency under Chairman Gary Gensler. According to Bloomberg Law, Nicholas Padilla, the inspector general who oversaw investigations, resigned. Although his page on the SEC’s website still needs to be updated, agency officials confirmed he disappeared in November. According to the SEC official, he had reached the legal maximum of his service, implying his notes on a page of more than 38 years in various federal and military positions. No one could get in touch with Padilla for comment.

SEC internal investigator leaves a month after raising staff retention issues

In October, Padilla informed Gensler of the loss of SEC personnel. “The SEC appears to be facing challenges in its preservation efforts,” the report said, noting the pace of SEC rulemaking and the lack of political communication under Gensler as sources of conflict. “His departure had absolutely nothing to do with the substantive work of the Office of the Inspector General,” said an SEC official.

SEC internal investigator leaves a month after raising staff retention issues
SEC internal investigator leaves a month after raising staff retention issues

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