WASHINGTON -- The Project On Government Oversight (POGO) strongly supports US Senator Elizabeth Warren’s letter to President Obama calling for the replacement of Chair Mary Jo White at the US Security and Exchange Commission (SEC). In January 2015, POGO sent a similar letter to Obama asking for White’s removal, noting that “the revolving door between industry and the SEC has irreparably undermined her tenure.”
Danielle Brian, POGO Executive Director, says:
The SEC under Mary Jo White has consistently placed Wall Street’s interests above the interests of the American public and investors. By hiring representatives of Wall Street to some of the agency’s top positions, the SEC eroded public trust in our financial regulatory system.
In addition, White’s longstanding opposition to rules requiring more disclosure by companies to investors undermines the core mission of the agency she has been tasked to lead.
In 2015, POGO told President Obama: “As long as White continues to serve as SEC Chair, there will always be an appearance that she is going easy on the Wall Street titans she used to represent.”
We stand by that statement and urge President Obama once again to replace Mary Jo White.