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March 11, 2013

Nominee for S.E.C. Chief Pledges to Keep Focus on Enforcement

 Mary Jo White plans to strike a hard line against Wall Street wrongdoing at a Senate confirmation hearing on Tuesday, as she deflects concerns from lawmakers who question her ability to regulate banks she recently defended.

In written testimony released on Monday to the Senate Banking Committee, which must approve her nomination as head of the Securities and Exchange Commission, Ms. White outlined her experience pursuing white-collar crime as a federal prosecutor in New York. As head of the S.E.C., Ms. White wrote, she would continue her campaign to root out financial fraud.

“‘If confirmed, it will be a high priority throughout my tenure to further strengthen the enforcement function of the S.E.C. – it must be fair, but it also must be bold and unrelenting,” Ms. White, who has defended JPMorgan Chase, UBS and other Wall Street giants, said in the written testimony. “Strong enforcement is necessary for investor confidence and is essential to the integrity of our financial markets.’

The hearing on Tuesday will present the last opportunity to woo her critics. Over the last few weeks, Ms. White has held meetings with committee members and answered the committee’s 20-page questionnaire detailing her qualifications.”


Read full New York Times article here

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