[h=3]By JESSICA HOLZER[/h]WASHINGTON—President Barack Obama will nominate Mary Jo White, a former star prosecutor who pursued terrorists and mobsters in New York, to lead the Securities and Exchange Commission, a White House official said.
Tim Roske/Associated PressMary Jo White, pictured here in 2004, would be the first former prosecutor to head the SEC in its more than 80-year history.
If confirmed by the Senate, Ms. White would be the first former prosecutor to head the agency in its more than 80-year history.
The nomination, to be announced Thursday, could signal a move to get tougher on Wall Street. It also could help quiet criticism that Mr. Obama isn't putting enough women or minorities in key posts in his second term. The SEC chairman, who leads an independent agency, isn't a member of the president's cabinet, but the post is a key link between Washington and the nation's financial markets, hedge funds and banks.
[h=3]Second-Term Shakeup[/h]President Barack Obama will need to fill many key posts in his second term. Take a look at top officials, some of whom are expected to leave.
Ms. White was the first and only woman to be named U.S. attorney for the Southern District of New York, the most prestigious federal prosecutor's post. There, she oversaw more than 200 assistant U.S. attorneys and made a name for herself prosecuting major terrorism and financial crime cases.
Ms. White has spent the past decade heading the litigation department at the law firm Debevoise & Plimpton LLP. As an administration appointee, she would be bound by Mr. Obama's ethics pledge, barring her for two years from working on matters involving her former firm or any of her clients over the past two years.
She also could face complications due to her husband John White's work.
Mr. White, a former top SEC official, is co-head of the group at law firm Cravath Swaine & Moore LLP that advises companies on their public reporting obligations and corporate governance—central SEC issues. Government ethics rules would likely prevent Ms. White from working on matters in which her husband is representing clients before the agency, people familiar with the regulations said.
Besides Ms. White, Mr. Obama also will name Richard Cordray for another term leading the Consumer Financial Protection Bureau, the White House official said Thursday. The president used a recess appointment last year to put Mr. Cordray in the position, avoiding opposition in Congress, where the new consumer agency is controversial. The recess appointment runs out at the end of the year.
Write to Jessica Holzer at [email protected]
Tim Roske/Associated PressMary Jo White, pictured here in 2004, would be the first former prosecutor to head the SEC in its more than 80-year history.
If confirmed by the Senate, Ms. White would be the first former prosecutor to head the agency in its more than 80-year history.
The nomination, to be announced Thursday, could signal a move to get tougher on Wall Street. It also could help quiet criticism that Mr. Obama isn't putting enough women or minorities in key posts in his second term. The SEC chairman, who leads an independent agency, isn't a member of the president's cabinet, but the post is a key link between Washington and the nation's financial markets, hedge funds and banks.
[h=3]Second-Term Shakeup[/h]President Barack Obama will need to fill many key posts in his second term. Take a look at top officials, some of whom are expected to leave.
Ms. White was the first and only woman to be named U.S. attorney for the Southern District of New York, the most prestigious federal prosecutor's post. There, she oversaw more than 200 assistant U.S. attorneys and made a name for herself prosecuting major terrorism and financial crime cases.
Ms. White has spent the past decade heading the litigation department at the law firm Debevoise & Plimpton LLP. As an administration appointee, she would be bound by Mr. Obama's ethics pledge, barring her for two years from working on matters involving her former firm or any of her clients over the past two years.
She also could face complications due to her husband John White's work.
Mr. White, a former top SEC official, is co-head of the group at law firm Cravath Swaine & Moore LLP that advises companies on their public reporting obligations and corporate governance—central SEC issues. Government ethics rules would likely prevent Ms. White from working on matters in which her husband is representing clients before the agency, people familiar with the regulations said.
Besides Ms. White, Mr. Obama also will name Richard Cordray for another term leading the Consumer Financial Protection Bureau, the White House official said Thursday. The president used a recess appointment last year to put Mr. Cordray in the position, avoiding opposition in Congress, where the new consumer agency is controversial. The recess appointment runs out at the end of the year.
Write to Jessica Holzer at [email protected]