Mary Jo White to be new SEC chair
January 26, 2013 by LIZ FESTA
As the chair of the Securities and Exchange Commission (SEC), Mary Jo White, who earned a reputation as a tough New York prosecutor, will likely not shy from creating a fiduciary standard that has her stamp on it, and from creating a climate where SEC enforcement will vigorously go after industry malfeasance, including suitability of variable annuity products.
White’s current practice at Debevoise & Plimpton concentrates on internal investigations and defense of companies and individuals accused by the government of involvement in white collar corporate crime or SEC and civil securities law violations, and on other major business litigation disputes and crises.
“The nomination of Ms. White to fill the seat of SEC Chairman, which became vacant with Ms. Schapiro’s resignation, will bring the Commission up to full strength and should help the SEC deal with the many issues before it, including standard of care,” stated Gary A. Sanders, vice president – securities and state government relations for the National Association of Insurance and Financial Advisors (NAIFA). Click here to read…
