New SEC Sheriff in Town

President Obama today nominated Mary Jo White to lead the Securities and Exchange Commission.  Ms. White is a former federal prosecutor who served as US Attorney for the Southern District of New York for approximately nine years.  Ms. White currently is a lawyer at the law firm of Debevoise & Plimpton LLP, where she Chairs the Litigation Department.  Assuming that Ms. White is confirmed by the Senate, White will replace Elisse Walter, who is serving out the rest of former SEC Chairman Mary Schapiro’s term. Ms. Schapiro resigned as SEC Chairman in December 2012.

Ms. White’s background is enforcement, not regulation.  It will be interesting to see if the SEC takes a stronger enforcement stance under Ms. White’s leadership.

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