SEC to Shutter Salt Lake Regional Office
The closing of the Utah center, the agency's smallest, will reduce the number of such offices to 10.
The Securities and Exchange Commission said Tuesday that it will close its Salt Lake Regional Office later this year, reducing its regional footprint from 11 offices to 10.
The Salt Lake office “has long been the SEC’s smallest regional office and recently has experienced significant attrition,” the agency said.
The SEC “considered its budget and organizational efficiency” in deciding to close the office. The agency said it has no plans to close other regional offices.
“All current staff will be aligned to existing SEC organizational components based on their current functions and agency mission needs,” the agency announced.
The enforcement jurisdiction over the state of Utah will be shifted to the SEC’s Denver Regional Office.
The SEC’s National Exam Program previously shifted the Salt Lake office’s ”local jurisdiction to Denver many years ago,” the agency said. “Thus, regional examinations authority will be unaffected by the closure of the office.”