Mary Jo White Hearing Set for March 12

Senate Banking to also consider nomination of Richard Cordray as CFPB director

More On Legal & Compliance

from The Advisor's Professional Library
  • Updating Form ADV and Form U4 When it comes to disclosure on Form ADV, RIAs should assume information would be material to investors.  When in doubt, RIAs should disclose information rather than arguing later with securities regulators that it was not material.
  • How to Avoid Sabotaging Your Compliance Exam There is much more to compliance examination survival than knowing all of the rules. It helps to understand why the rules were put in place—and to recognize that examiners are not the enemy.

The Senate Banking Committee announced late Monday that it will hold a hearing next Tuesday to consider the nomination of Mary Jo White to be the next chairwoman of the SEC.

The committee will also consider the nomination of Richard Cordray to be director of the Consumer Financial Protection Bureau.

A vote on the nominees will be scheduled for a later date, the committee said.

Mary Jo WhiteOnce the Senate Banking Committee has its hearing, the full Senate can confirm white (left) the next day, or a day later, so she could replace current SEC Chairwoman Elisse Walter by mid-March.

One comment from an SEC official at the SEC Speaks conference in Washington in late February put Mary Jo White’s presence at the agency at “30 days” away.

On Friday, the SEC published its request for public comment on its rule to put brokers under a fiduciary mandate. White’s arrival at the agency puts a big question mark on how the agency will move forward with a fiduciary rule.

 

 

Reprints Discuss this story
This is where the comments go.