“President Obama will on Thursday name Mary Jo White, former New York prosecutor to head the SEC, according to various press reports.
“It will be the first time a former prosecutor has been named as the head of the SEC and signals a tougher regulatory regime for Wall Street. White will replace Elisse Water, who took over as Chairwoman after Mary Schapiro stepped down in late 2012.
“”Mary Jo White was a tough, smart, no nonsense, broadly experienced and highly accomplished prosecutor. She knew who the bad guys were, went after them and put them in prison when they broke the law,” said Dennis Kelleher, CEO of regulatory think tank Better Markets. “That’s what must happen if integrity and investor confidence is to be restored in our securities markets.””
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