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January 24, 2013

Obama to nominate former prosecutor to lead SEC

President Obama will nominate Mary Jo White, a former prosecutor and one-time director of the NASDAQ stock exchange, to lead the Securities and Exchange Commission, a White House official said Thursday.

Obama plans to make the announcement Thursday afternoon at the White House.


“White was the first woman to serve as U.S. attorney for the Southern District of New York, which handles Wall Street cases, as well as other high-profile prosecutions. She served in the position for nearly a decade before stepping down in 2002. She was the lead prosecutor for the individuals accused in the first World Trade Center bombing in 1993.   

Dennis Kelleher, president of Better Markets, a public interest group that supports tougher financial regulations, praised the decision to nominate a former prosecutor to head the SEC.

“Wall Street is a high crime area and Mary Jo White brings the right skill set to restore the rule of law on Wall Street,” he said.”


Read full LA Times article here

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