Bush signs bill to expedite SEC hiring

President Bush signed legislation Friday giving the Securities and Exchange Commission the authority to use expedited hiring procedures to bring on new accountants, economists and compliance examiners.

The legislation would give the SEC the authority to exempt applicants for such positions from the standard federal hiring process. The SEC has long had expedited authority for hiring attorneys. Agency officials and lawmakers argued that the special authority also was needed to speed the hiring process for other employees critical to dealing with recent corporate scandals.

The bill was passed without opposition in the House and the Senate last month, after the SEC and the National Treasury Employees Union agreed on a plan to implement the expedited hiring process.

Earlier this year, SEC officials said they had hired nearly all of the new lawyers the agency was authorized to bring on board in the wake of the accounting scandals, but have managed to fill less than 40 percent of the accountant positions.

This problem could be exacerbated in the coming year, because the SEC expects to hire more than 800 new accountants, economists and compliance examiners as a result of an expected funding increase in the agency's fiscal 2004 budget.

Stay up-to-date with federal news alerts and analysis — Sign up for GovExec's email newsletters.
Close [ x ] More from GovExec

Thank you for subscribing to newsletters from GovExec.com.
We think these reports might interest you:

  • Forecasting Cloud's Future

    Conversations with Federal, State, and Local Technology Leaders on Cloud-Driven Digital Transformation

  • The Big Data Campaign Trail

    With everyone so focused on security following recent breaches at federal, state and local government and education institutions, there has been little emphasis on the need for better operations. This report breaks down some of the biggest operational challenges in IT management and provides insight into how agencies and leaders can successfully solve some of the biggest lingering government IT issues.

  • Communicating Innovation in Federal Government

    Federal Government spending on ‘obsolete technology’ continues to increase. Supporting the twin pillars of improved digital service delivery for citizens on the one hand, and the increasingly optimized and flexible working practices for federal employees on the other, are neither easy nor inexpensive tasks. This whitepaper explores how federal agencies can leverage the value of existing agency technology assets while offering IT leaders the ability to implement the kind of employee productivity, citizen service improvements and security demanded by federal oversight.

  • IT Transformation Trends: Flash Storage as a Strategic IT Asset

    MIT Technology Review: Flash Storage As a Strategic IT Asset For the first time in decades, IT leaders now consider all-flash storage as a strategic IT asset. IT has become a new operating model that enables self-service with high performance, density and resiliency. It also offers the self-service agility of the public cloud combined with the security, performance, and cost-effectiveness of a private cloud. Download this MIT Technology Review paper to learn more about how all-flash storage is transforming the data center.

  • Ongoing Efforts in Veterans Health Care Modernization

    This report discusses the current state of veterans health care


When you download a report, your information may be shared with the underwriters of that document.