Sen. Elizabeth Warren, a Democrat from Massachusetts, wrote a letter to President Barack Obama last week urging him to replace Mary Jo White as the chair of the Securities and Exchange Commission, reports HousingWire’s Ben Lane.
In the letter, Warren takes issue with White’s “refusal” to develop a political spending disclosure rule and her efforts to permit publicly traded companies to disclose less to investors and the public.
“Corporations are flooding our elections with millions of dollars in secret political contributions, drowning out the voices of working families. Yet two weeks ago, Republican leaders successfully forced a rider into must-pass legislation to fund our government that prohibited the Securities and Exchange Commission from issuing a final rule requiring public companies to disclose these political contributions,” Warren writes.
She continues, “But the rider is not the biggest barrier to making progress on this critical issue. For years, the Chair of the SEC, Mary Jo White, has refused to develop a political spending disclosure rule despite her clear authority to do so, and despite unprecedented and overwhelming investor and public support for such a rule.”