Deals and People

SEC Chair Will Step Down Ahead of Trump Appointments

Mary Jo White, who became the 31st Chair of the SEC in April 2013, will be one of the SEC’s longest serving Chairs.

By Rebecca Moore editors@assetinternational.com | November 15, 2016
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Securities and Exchange Commission (SEC) Chair Mary Jo White, after nearly four years as the agency’s head, announced that she intends to leave at the end of the Obama Administration.

Chair White, who became the 31st Chair of the SEC in April 2013, will be one of the SEC’s longest serving Chairs.

In addition to completing the vast majority of the agency’s mandates under the Dodd-Frank Act and all of its mandates under the JOBS Act, Chair White’s leadership has advanced the agency’s mission through other critical rulemakings and built robust and effective frameworks for the SEC’s regulatory regimes going forward.

“My duty has been to ensure that the Commission implemented strong investor and market protections, and to establish an enduring foundation for future progress in the most critical areas—asset management regulation, equity market structure and disclosure effectiveness,” says White. “Thanks to the hard work and dedication of the SEC’s staff, we have accomplished both.”

Under her leadership, the SEC advanced more than 50 significant rulemaking initiatives, including:

  • Fundamental reforms to the money market fund industry;
  • A comprehensive framework for enhancing the effectiveness of corporate disclosure for investors
  • Major enhancements to transparency and risk management for asset-backed securities, which were a significant contributor to the financial crisis;
  • Strong operating standards for the clearing agencies that stand at the center of our financial system; and
  • Extensive reforms to the regulation of credit rating agencies and how they address conflicts of interest that can harm investors.
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