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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Warren Wants SEC's Mary Jo White Fired - Obama Says 'No'
Sen. Elizabeth Warren wrote a ‘Dear Barack” letter asking the President to dismiss Mary Jo White as Chair of the SEC, the latest and strongest push by the Massachusetts Democrat to criticize the top markets cop and to influence financial policy-making here.
A White House spokesperson replied: “The president continues to believe that Chair [ Mary Jo] White is the right leader for the Securities and Exchange Commission.” This isn’t the first time the White House has come to Ms. White’s defense in response to criticism from Sen. Warren.
The strategy builds on efforts by progressives to block Obama administration nominees seen as too close to big business. Ms. White, an independent who was sworn in as SEC chief in April 2013, had been a prominent federal prosecutor and had also worked as a top corporate attorney.
The progressive group claimed a win one year ago when Antonio Weiss (with Wall Street ties) was essentially denied an opportunity to serve in a key Treasury Department position. He ended up as a top adviser to Treasury Secretary Jacob Lew. Ms. Warren and her allies were also instrumental in torpedoing consideration of a well-known corporate securities lawyer for an SEC post last year. That post remains unfilled.
At present, and among other things, Ms. Warren takes issue with Chairperson White’s decision not to craft a rule requiring public companies to disclose their political spending activities - even though the agency is restricted by law from working on such a rule this year. The senator also denounced an initiative to eliminate duplicative or outmoded corporate disclosures - a project Ms. Warren dubbed a “far-reaching, anti-disclosure initiative.”
A string of recent SEC chairpersons, including Mary Schapiro and Elisse Walter, have defended Ms. White’s record.