US SEC says Trump administration to terminate building leases for Los Angeles, Philadelphia regional offices

The U.S. Securities and Exchange Commission informed staff on Monday the Trump administration is preparing to terminate building leases for its regional offices in Los Angeles and Philadelphia, according to an email seen by Reuters.

In an email sent to staff, the SEC emphasized efforts to end those leases by the General Services Administration (GSA), which is generally charged with managing U.S. government office space, is not directly tied to any staff reorganizations or layoffs within the SEC.

The GSA is also intending to terminate the lease of the SEC's Chicago office, but may not be able to do so without incurring significant financial penalties, the email said. An SEC spokesperson declined to comment.