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Washington, D.C.—Competitive service status for professional employees of the Securities and Exchange Commission (SEC) is an important tool for both employees and the agency, the leader of the union representing SEC employees said today in urging Congress to retain the coverage for accountants, economists and examiners while considering hiring flexibilities.

In testimony to the House Subcommittee on Capital Markets, President Colleen M. Kelley of the National Treasury Employees Union (NTEU) said that competitive service status “helps lead to the development of experienced, well-rounded professionals” to better serve investors and the public.

The SEC is asking Congress to allow for quicker hiring practices but the legislation under consideration would remove certain professional employees of the SEC from competitive service and place them in the excepted service.

President Kelley suggested that “a better approach” would be to retain these professionals in the competitive service, but to look at granting the SEC limited, short-term hiring flexibilities independent of a change in status for employees. Employees hired into the excepted service have fewer on-the-job workplace rights and protections.

On related matters, President Kelley said that while the leadership of the Financial Services Committee was instrumental in securing passage of pay parity legislation for SEC employees, “we are still in need of full funding by Congress and then full implementation of pay and benefits by SEC management” to make the congressional intent a reality.

The agency still has “serious staffing and morale problems,” President Kelley said. “However,” she added, “I am optimistic that, working together with SEC management, we will soon begin to see great improvements” at the agency.

NTEU is the largest independent union of federal employees and represents some 150,000 federal employees in 29 agencies and departments.