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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
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- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Ex-U.S. Attorney Yang Now Trump’s Top Contender for SEC
Nearly two weeks after Financialish.com reported that Debra Wong Yang was being considered for the SEC Chair position, President-elect Donald Trump is reportedly closer to nominating the ex-U.S. attorney. If selected, Ms. Yang would be the second consecutive former federal prosecutor to chair the SEC. Yang, a partner at Gibson, Dunn & Crutcher, would replace Mary Jo White,
Trump hasn’t made a decision about who should lead the SEC, said Jason Miller, a spokesmen for the president-elect. Yang didn’t immediately return an e-mail or phone call seeking comment.
Yang joined Gibson Dunn in 2006 after serving as a U.S. attorney in Los Angeles during George W. Bush’s presidency. With a background as a government lawyer and in private practice, she has had stints going after companies and defending them.
Corporate Wrongdoing
In favoring an ex-prosecutor, Trump is emphasizing the SEC’s role in investigating corporate wrongdoing rather than its more mundane - though often as important - policy-making side. Yang’s lack of experience in securities regulation could present challenges for her in trying to quickly roll back rules stemming from the Dodd-Frank Act, a priority of many Republican lawmakers and Wall Street firms.
Another potential hurdle for Yang could be trying to navigate the SEC’s byzantine bureaucracy as an outsider. Though the agency’s chairman sets the agenda, longtime staff members are the ones who are called upon to get things done.
