[ by Melanie Gretchen ]

Mary Jo White took an expected but nonetheless critical step closer to taking charge of the SEC.  Nominated by President Barack Obama, Ms. White received wide support from the Senate Banking Committee, with a 21-to-1 vote.  Next up is the full Senate, which means Ms. White is just about 'home free'.

The single outlier, Senator Sherrod Brown (D-OH), attributed his opposition to the possibility of conflicts of interest, considering her work at Debevoise & Plimpton representing big banks and banking officials. Mr. Brown issued the following statement: 

"I don’t question Mary Jo White’s integrity or skill as an attorney.  But I do question Washington’s long-held bias toward Wall Street and its inability to find watchdogs outside of the very industry that they are meant to police."

For her part, Ms. White said she would recuse herself for one year from most matters involving former clients after she steps down at the New York law firm.  If her past track record in public service is any indication of her commitment, Mary Jo White should do quite well.  As the first female United States attorney in Manhattan, she led an aggressive crackdown on terrorism and organized crime, which she vows she would apply as SEC chair.

"If confirmed, it will be a high priority throughout my tenure to further strengthen the enforcement function of the SEC.  It must be fair, but it also must be bold and unrelenting." -- Ms. White, at her confirmation hearing last week.

For further details, go to [Dealbook, 3/19/13].