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U.S. President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission (SEC), a White House source said, restoring the agency's power to work on its overhaul of Wall Street.
U.S. President Barack Obama will nominate former federal prosecutor Mary Jo White to head the Securities and Exchange Commission (SEC), a White House source said, restoring the agency's power to work on its overhaul of Wall Street.
(BRENDAN MCDERMID/REUTERS)

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A new sheriff for Wall Street

Wall Street, meet Mary Jo. It looks likely she’ll be your regulator for the foreseeable future.

Later this afternoon, President Barack Obama is expected to nominate Mary Jo White to head the U.S. Securities and Exchange Commission. If nominations are meant to send a message, then this one is crystal clear: prepare for some regulatory heat.