Mary Jo White Stepping Down as Chair of Securities and Exchange Commission

On November 14, 2016, Mary Jo White, SEC Chair, announced her plans to step down at the end of the Obama Administration. During her tenure, the SEC brought more than 2,850 enforcement actions and obtained judgements and orders that tallied more than $13.4 billion in monetary sanctions. Although many of these actions involved numerous firsts in asset management, market structure and public finance, there were a number of other cases, which involved insider trading, violations of anti-corruption rules and misconduct in accounting and financial reporting.

In addition to bringing a record number of enforcement actions under Chair White’s command, the SEC also completed most of the agency’s mandates under the Dodd-Frank Act and all of those under the JOBS Act.

Chair White also was responsible for increasing the SEC’s use of technology and advanced quantitative review techniques as part of the SEC’s exam program in order to allow examiners the ability to quickly and efficiently analyze large amounts of data.

Mary Jo White is the 31st Chair of the SEC and one of the longest serving. She was quoted in the SEC’s release as saying: “It has been a tremendous honor to work alongside the incredibly talented and dedicated SEC staff members who do so much every day to protect investors and our markets,” and further, “I am very proud of our three consecutive years of record enforcement actions, dozens of fundamental reforms through our rulemakings that have strengthened investor protections and market stability, and that the job satisfaction of our phenomenal staff has climbed in each of the last three years. I also want to express my appreciation for the engagement and dedication of my fellow Commissioners and my financial regulator colleagues, past and present.”

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