SEC Chair Mary Jo White on Monday defied requests by Senate Republican to delay adopting new rules until after President-elect Donald Trump takes office. Ms. White’s letter to the Senate Banking Committee's top 2 Republicans - Chair Richard Shelby and Mike Crapo - was in response to their request last month to cease adopting rules until after Trump had a chance to review the SEC's agenda.

In her response, White stressed it was "incumbent" on the independent regulator's canons of ethics to proceed finalizing rules. Those canons direct the SEC to "exhibit a spirit of firm independence" in performing its regulatory duties "without fear or favor." She added that she had confirmed that the SEC "historically has proceeded with its work during comparable post-election periods."

Shelby and Crapo had also asked White to provide a list of all rules currently awaiting adoption. Ms. White gave them a list of regulations that she said are "ready for Commission consideration" before she plans to depart the agency, including a few derivatives rules mandated by the 2010 Dodd-Frank law, as well as a more controversial one that would limit how mutual funds and ETFs use derivatives to leverage returns.