Ex-Prosecutor To Lead SEC

Jan 24 2013 | 9:53am ET

It's official: President Barack Obama will name former federal prosecutor Mary Jo White as his pick to lead the Securities and Exchange Commission.

White would be the first former prosecutor to hold the chairmanship of the U.S. financial services regulator. She'll be formally nominated today at 2:30 p.m. at the White House, alongside Richard Cordray, whom the president will renominate to lead the Consumer Financial Protection Bureau.

White has been seen as the front-runner for the job since last week. She is something of an unlikely pick for a post that has been generally held by regulators, industry veterans and politicians. During her nearly 10 years as U.S. Attorney in Manhattan, White prosecuted mobsters and terrorists, but was not known for an aggressive push on white-collar crime, as is the current occupant of that office, Preet Bharara. White has spent the past decade in private practice, as a white-collar defense lawyer.

White's largely unknown stands on regulation will likely be a major issue at her Senate confirmation hearings. But her appointment is no doubt designed to indicate that the Obama administration considers a crackdown on insider-trading and other white-collar crimes to be a major focus during his second term, which began this week.

If she is confirmed, White will succeed Elisse Walter, who is serving as acting chairman of the agency. Walter took over in November from Mary Schapiro, who had led the SEC during Obama's first term.


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.