SEC Inspector General Leaves After 38 Years In Federal Service

According to Bloomberg Law, Nicholas Padilla, the Securities and Exchange Commission SEC’s acting inspector general has left the agency after he raised problems with the agency’s staff retention under Chair Gary Gensler.

Nicholas Padilla, who oversaw investigations, has resigned from his position as inspector general. Representatives of the Securities and Exchange Commission confirmed that he left in November even though his page on the organization’s website has not been updated.

The SEC official claimed that Padilla had served the statutory maximum amount of time, which according to his page was more than 38 years in various federal and military posts. No one could get in touch with Padilla for comment.

The loss of staff was reported by Padilla to Gensler in October. According to the report, “the Securities and Exchange Commission seems to be facing challenges to its retention efforts”, in particular, the speed of the regulation and a lack of communication about policy under Gensler as sources of conflict.

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