News

SEC nominee Mary Jo White vows to step up enforcement if confirmed

Mary Jo White

Mary Jo White

Mary Jo White, who is set to replace SEC Chairman Elisse Walter, has vowed to finish a number of rulemakings and increase enforcement efforts if the Senate confirms her appointment.

“The SEC needs to get the rules right, but it also needs to get them done,” White said, referring to the number of unresolved rulemakings under Dodd-Frank, Reuters reports.

White said during a Senate Banking Committee hearing that the enforcement of markets should be “fair, but it also must be bold and unrelenting.”

“Investors and all market participants need to know that the playing field of our markets is level and that all wrongdoers—individual and institutional, of whatever position or size—will be aggressively and successfully called to account by the SEC,” White said, according to Los Angeles Times. “Strong enforcement is necessary for investor confidence, and it is essential to the integrity of our financial markets. Proceeding aggressively against wrongdoers is not only the right thing to do, but it also will serve to deter the sharp and unlawful practices of others who must be made to think twice—and stop in their tracks—rather than risk discovery, pursuit and punishment by the SEC.”

White appeared before the Senate today for her confirmation hearing and is expected to win confirmation. From 1993 to 2002, she served as the U.S. attorney in Manhattan, and, if confirmed by the Senate, she will be the first prosecutor to hold the post, The Huffington Post reports.