SEC — New Chairman confirmed

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08 Apr 2013

The United States Senate has confirmed Mary Jo White, a former federal prosecutor, as the new chairman of the SEC. The confirmation only allows Ms. White to complete the remainder of the term begun by Mary Schapiro, which ends in June 2014.

Shortly after Ms. Schapiro’s resignation, President Obama nominated Ms. White to complete Ms. Schapiro’s term as well as to serve a full five-year term as head of the SEC. It is unclear when the Senate will vote on the longer-term nomination. Ms. White replaces Elisse Walter, who has been serving as SEC chairman since Ms. Schapiro’s resignation.

In addition, the U.S. Financial Accounting Foundation (overseer of the FASB and GASB) issued a congratulatory statement for the confirmation of Ms White as chairman of the SEC.

Ms White was sworn in on 10 April, by SEC Secretary Elizabeth Murphy, officially becoming the 31st Chair of the SEC.

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