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Obama to nominate former prosecutor to lead SEC

"President Obama will nominate Mary Jo White, a former prosecutor and one-time director of the NASDAQ stock exchange, to lead the Securities and Exchange Commission, a White House official said Thursday.

Obama plans to make the announcement Thursday afternoon at the White House.

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"White was the first woman to serve as U.S. attorney for the Southern District of New York, which handles Wall Street cases, as well as other high-profile prosecutions. She served in the position for nearly a decade before stepping down in 2002. She was the lead prosecutor for the individuals accused in the first World Trade Center bombing in 1993.   

Dennis Kelleher, president of Better Markets, a public interest group that supports tougher financial regulations, praised the decision to nominate a former prosecutor to head the SEC.

“Wall Street is a high crime area and Mary Jo White brings the right skill set to restore the rule of law on Wall Street," he said."

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Read full LA Times article here

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