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SEC nominee makes tech a priority

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The Securities and Exchange Commission, charged with enforcing the nation's financial regulations, could get a leader who sees technology as a high priority. (Stock image)

President Barack Obama’s pick to head the Securities and Exchange Commission says she will work to ensure technology stays at the forefront.

Mary Jo White, who testified before the Senate Committee on Banking, Housing and Urban Affairs the morning of March 12, said she had mapped out early focus areas if she were to be become the SEC chairwoman.

Together with staff and other commissioners, White said, she would first take on the rulemaking mandates in the Dodd Frank Act and Jumpstart Our Business Startups Act, the latter of which has now been in adoption for a full year.

“To complete these legislative mandates expeditiously must be an immediate imperative for the SEC,” she said.

White said a second priority would be to bolster SEC’s enforcement function, which “is essential to the integrity of our financial markets.”

Third, her focus would be to make sure SEC has the cutting-edge technology and expertise necessary to keep pace with the markets and its responsibilities to monitor, regulate and enforce the securities laws. “It’s a great investment to hire experts,” she said.

White, a former U.S. attorney for the Southern District of New York, most previously served as chair of the litigation department at Debevoise & Plimpton LLP. If confirmed by the Senate, she is expected to replace interim SEC Chairwoman Elisse Walter by mid-March.

Posted by Camille Tuutti on Mar 12, 2013 at 12:10 PM


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