Internal investigator for the SEC resigns one month after highlighting staff retention concerns

After 38 years of federal service, Nicholas Padilla, the Securities and Exchange Commission’s acting inspector general, has departed the government.

The Securities and Exchange Commission has lost its acting inspector general, one month after he voiced concerns about the agency’s retention of workers under chairman Gary Gensler.

Bloomberg Law reported that Nicholas Padilla has resigned as inspector general, where he headed investigations. Although his profile on the SEC’s website has not been updated, agency personnel have verified that he departed the organization in November.

According to a spokesperson of the SEC, he had achieved the statutory limit of his service, which his page indicates consisted of more than 38 years in a variety of federal and military roles. Padilla was unavailable for comment.

In October, Padilla informed Gensler of the SEC’s workforce reduction. “The SEC seems to be encountering difficulties in its retention efforts,” according to the study, which cites the speed of the SEC’s regulation and the lack of policy communication under Gensler as sources of contention.

A spokeswoman for the SEC said, “His departure had nothing to do with the Office of the Inspector General’s substantive work.”

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