WASHINGTON- Wall Street’s top regulator is facing an exodus of staff across key departments as hundreds of employees have agreed to take resignation offers amid President Donald Trump and Elon Musk’s efforts to remake the U.S. government, five people familiar with the matter told Reuters.

Departures from the U.S. Securities and Exchange Commission, which include senior staff and enforcement lawyers, could significantly hamper the watchdog’s efforts to police markets and protect investors, the sources said. They come as part of an effort by the SEC to address Trump and Musk’s calls for deep cuts across federal agencies.

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