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U.S. Senate confirms Mary Jo White as SEC chief


10:22, April 09, 2013

WASHINGTON, April 8 (Xinhua) -- The U.S. Senate on Monday confirmed Mary Jo White as the next chairman of the Securities and Exchange Commission (SEC).

The confirmation marks the first time a former federal prosecutor to head the SEC in its more than 80-year history, signaling a move to get tougher on Wall Street.

White will replace Elisse Walter, who has served as chairman of the SEC since Mary Schapiro stepped down in December of 2012.

Unlike Mary Shapiro, who worked previously as a financial regulation official both at the SEC and the Financial Industry Regulatory Authority (FINRA), White built a reputation as the U.S. attorney for the Southern District of New York from 1993 and 2002, where she prosecuted several terrorists and numerous white-collar crimes, including insider trading and securities fraud cases.

U.S. President Barack Obama picked White to head the SEC on Jan. 24. At the Senate Banking Committee hearing on her nomination on March 12, White pledged "bold and unrelenting" enforcement to lead the agency if she is confirmed by the Senate.

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