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SEC Nominee Mary Jo White to be Questioned at Hearing

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SEC Nominee Mary Jo White to be Questioned at Hearing

By Startup Valley (352 words)
Posted in Events on March 12, 2013

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President Barack Obama has elected former federal prosecutor Mary Jo White to run the Securities and Exchange Commission. White’s credentials make her a respectable candidate who can make an impact as Wall Street’s regulator. Many have been vocal about their feelings towards White. Some believe that she can be a good fit because of her financial background, while others question her ability to improve the overall structure of Wall Street.

Mary Jo White has worked as a prosecutor in New York for over nine years. During her time, she mainly handled white-collar criminals and terrorists. White did not comment on her white-collar defense while employed with Debevoise & Plimpton. She is well aware that the rules and regulations of the JOBS Act are timely, and should be completed as efficiently as possible.

“It will be a high priority throughout my tenure to further strengthen the enforcement function of the SEC – it must be fair, but it also must be bold and unrelenting,” said Mary Jo White

White stated that the SEC must finalize the terms of the JOBS Act, but not move too fast to miss any important parameters. Crowdfunding portals, such as StartupValley, are looking forward to assist startups in growing through an alternative funding channel in exchange for shared equity. An appropriate regulatory response must be put in to streamline the process of equity crowdfunding.

The overall feelings towards White are mixed, and she is questioned mainly due to her background. She is scheduled to appear before the Consumer Protection Bureau committee to establish her position regarding various topics. Senator Tim Johnson is head of the banking committee had nothing but kind words about White as he met with her briefly. Johnson stated that he was impressed with her in-depth knowledge of the current issues and how they should be handled.

StartupValley is optimistic for this changing of the guard, as White seems adamant on passing the JOBS Act in a timely manner as she knows also, it is quite far overdue.

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