[ by Melanie Gretchen ]

While SEC Nominee Mary Jo White awaits her hearing before a Senate committee panel, she has stepped up to disclose her finances from her work at Debevoise & Plimpton.  As head of the litigation department, Ms. White, 65, is in good company with her husband, John White, 65, who is co-chairman of the corporate governance practice at Cravath, Swaine & Moore.

Steering Clear of Conflict of Interest. Together, Ms. White and her husband have compiled at least $16 million.  That would buy him the option to help his wife deal with potential conflicts.  Specifically, he would convert his partnership at Cravath from equity to nonequity status, whereby he would go from having equity to having a fixed salary and an annual performance bonus, according to Ms. White's filing.

In addition, Mr. White would not, while his wife is Chair, communicate with the commission on behalf of his firm or any client in connection with rules proposed by the SEC.  At Cravath, he has vast experience in securities law and deep connections to the SEC.  Just a few years ago, Mr. White served as the director of the commission's corporation finance unit from 2006 to 2008.

The couple's largesse includes:

• 40 acres of farmland and unsold crops in Pocahontas County, Iowa, that are valued at $100,000 to $250,000
• the $2.4 million she made as a Debevoise partner last year
• her retirement of monthly lifetime retirement payment of $42,500, to total $510,000 annually (excluding the 4 years Ms. White would spend as chair, in which case Debevoise would make a lump-sum payment within 60 days of her appointment)
• 7 different investments – including a Vanguard high yield bond fund and a Vanguard emerging markets fund  – worth $1 million to $5 million together worth up to $35 million

Not too shabby.

For further details, go to [Dealbook, 2/11/13].