SEC Nominee White’s Disclosure Report Shows Possible Conflicts

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Mary Jo White, President Barack Obama’s nominee to lead the U.S. Securities and Exchange Commission, said she will avoid some matters involving firms including JPMorgan Chase, General Electric Co. and Deloitte & Touche if confirmed by the Senate.

Bloomberg reports that White, a former U.S. prosecutor who is retiring as a partner in the law firm Debevoise & Plimpton LLP, outlined her recusal plans in cases involving former clients in a letter accompanying her financial disclosure report. She reported earning more than $2.4m from her partnership stake last year.

The report, which also lists former Bank of America Corp. CEO Kenneth D. Lewis, former Goldman Sachs director Rajat Gupta and UBS AG as clients, underscores White’s longstanding ties to Wall Street as a top defense lawyer. She may face questions over potential conflicts of interest at her Senate confirmation hearing, which hasn’t been scheduled.

Obama nominated White for SEC chairman on January 24th, praising her tenure as U.S. attorney for the southern district of New York from 1993 to 2002. She will be a 'cop on the beat' of the financial system and help 'complete the task of reforming Wall Street', the president said.

In her letter, White wrote that 'for a period of one year after my retirement' from the law firm, she would 'not participate personally and substantially in any particular matter involving specific parties in which Debevoise & Plimpton LLP is a party or represents a party'.

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SEC Nominee White’s Disclosure Report Shows Possible Conflicts

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