The SEC: Too Conflicted to Regulate

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The SEC: Too Conflicted to Regulate

The SEC: Too Conflicted to Regulate

WSJ-

Enforcement cases at the Securities and Exchange Commission go nowhere unless approved by a majority of the agency’s commissioners. But conflicts for the possible new chairman and other top officials could make it harder to get to “yes.”

For example, SEC investigators are looking into the “London whale” trading mess at J.P. Morgan Chase & Co. and have yet to decide whether to recommend any action in the matter. Mary Jo White, nominated last month by President Barack Obama to lead the agency, wouldn’t be able to vote on any case involving the New York bank for two years after taking the job. That is because J.P. Morgan recently was her client at law firm Debevoise & Plimpton LLP.

[WALL STREET JOURNAL]

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