"Efficiency Nut": Evaluating the Rulemaking Progress at the Securities and Exchange Commission
June 23, 2014 - The 2013 nomination of Mary Jo White to chair the Securities and Exchange Commission evoked a mixed reaction. Some applauded her nomination because of her background as a former prosecutor who once led the U.S. Attorney’s Office for the Southern District of New York (SDNY). Others worried that her subsequent career as a white collar criminal defense attorney at Debevoise & Plimpton might negate that history of prosecution. Commenters, including former colleagues, agreed on one positive trait: she gets things done efficiently.
At her confirmation hearing, White pledged to “finish in as timely and smart a way as possible” the rule-making mandates. However, Public Citizen's analysis shows that White has now delayed the proposed completion date for SEC completion of final rules in 64 percent of the cases.