Occupy the SEC (OSEC) has submitted a letter to the members of the Senate Committee on Banking, Housing and Urban Affairs in anticipation of the upcoming confirmation hearing of Mary Jo White. The letter requests that the Committee submit a series of questions to Ms. White regarding her intentions as Chairman of the SEC.
Figures from industry, media and the government have expressed their support for White’s nomination, along with expectations that she will bring tenacity and toughness to the position based on her track record as a prosecutor. While we are hopeful that she will live up to these expectations, Ms. White’s more recent work as a defense attorney raises significant questions that OSEC would like to see addressed in the hearing.
Specifically, we are concerned about the potential conflicts posed by her work representing many of the executives and institutions that she will be in charge of regulating. Her track record, together with comments about the prosecution of banking executives, raise questions that – if left unanswered – could further undermine the public’s faith in the integrity of the SEC.