Sen. Tim Johnson (D-S.D.), the chairman of the Senate Banking Committee, recently expressed support for the Senate confirmation of Mary Jo White to replace outgoing SEC Chairman Elisse Walter.
The Senate unanimously confirmed White, a former federal prosecutor and white-collar defense attorney, on Monday despite concerns regarding her Wall Street ties. White spent nearly 15 years as a defense attorney at Debevoise & Plimpton in New York before becoming a federal prosecutor.
“The SEC needs a strong leader in place as it works to implement Wall Street Reform, and that is exactly what the commission is getting with Mary Jo White,” Johnson said. “After meeting her, listening to her testimony, and closely reviewing her qualifications, it came as no surprise that she received such overwhelming bipartisan support for her confirmation. I look forward to working with her as the SEC addresses a range of rules and policy issues that include the Volcker Rule, derivatives, credit rating agencies, hedge funds, standards for broker-dealers and investment advisers, corporate disclosures, market structure, and money market funds, to name just a few.”
Johnson also praised Walter for her work as chairman of the SEC.
“I also want to thank Elisse Walter for her good work as Chairman over the past few months,” Johnson said. “The commission didn’t skip a beat throughout this transition and that is a testament to her expertise, hard work, and dedication.”