SEC's White Announces Departure
A statement from the U.S. Securities & Exchange Commission entitled, "SEC Chair Mary Jo White Announces Departure Plans," says, "SEC Chair Mary Jo White, after nearly four years as the agency's head, today announced that she intends to leave at the end of the Obama Administration. Under Chair White's leadership, the Commission strengthened protections for investors and the markets through transformative rulemakings that addressed major issues highlighted by the financial crisis. The Commission also instituted a new approach to enforcement that has resulted in greater accountability and record actions through, among other things, the use of admissions of wrongdoing and enhanced data analytics and technology." The release adds, "Chair White drove many important rules and other policy measures to completion. Under her leadership, the Commission advanced more than 50 significant rulemaking initiatives, including: Fundamental reforms to the money market fund industry and unprecedented new disclosures and protections for mutual fund investors in a major initiative to strengthen regulation of the $67 trillion asset management industry." ICI issued a "Statement on SEC Chair Mary Jo White," which says, "We congratulate Chair Mary Jo White for her exceptional leadership of the Securities and Exchange Commission through one of the most challenging and significant periods of its history. Her commitment to investor protection and robust capital markets has made America's financial system significantly stronger and more robust. The expertise, experience, and open process that the Commission has brought to asset management issues under her leadership will strengthen mutual funds, to the benefit of their 90 million investors. We thank her for her long service to the nation, and wish her the very best in her future endeavors."
