Hiring ceilings at the Securities and Exchange Commission have reportedly been cut by 10 percent across the board amid facility cost overruns and an anticipated lower budget for fiscal 2006.

The cuts, announced in a May 19 memo from SEC executive director James McConnell to SEC division directors and office heads, mean that SEC managers can't fill openings for non-supervisory positions until the "headcount" in their division or office falls below a new, lower ceiling, according to a report by Dow Jones Newswires.

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