Wednesday, April 10, 2013

Mary Jo White Sworn in as New SEC Chair


The Securities and Exchange Commission (“SEC”) announced today Mary Jo White was sworn in as its 31st Chair.  Chairman White comes to the SEC after having spent years prosecuting securities and financial institution frauds and international terrorism cases as U.S. Attorney for the Southern District of New York from 1992 to 2002.  Afterwards, she was a partner at the law firm of Debevoise & Plimpton LLP in New York.

“It is an honor to lead the talented and dedicated SEC staff on behalf of America’s investors and markets,” stated Chairman White.  “Our markets are the envy of the world precisely because of the SEC’s work effectively regulating the markets, requiring comprehensive disclosure, and vigorously enforcing the securities laws.”

Chairman White’s predecessor, Mary Schapiro, served as SEC Chairman during a turbulent time, beginning in early 2009.  It remains to be seen if Chairman White while use her prosecutorial past as a means to further reshape and enforce U.S. securities law.