Mary Jo White, the chair of the Securities and Exchange Commission, announced that she will be stepping down from the role she’s held since 2013 at the end of the Obama administration.
As HousingWire staffer Ben Lane notes, White’s term at the SEC was not due to expire until 2019. Now, President-elect Donald Trump will get to fill the position when he takes office in January. He should be able to fill the position fast since Republicans control both houses on Congress.
Trump’s transition team already released plans to “dismantle” the Dodd-Frank Wall Street Reform Act, and Trump spoke often during his campaign of a desire to roll back regulations, so installing an SEC chair that shares those same beliefs could be in the plans.
But as Politcio notes, Trump also spoke often of cracking down on Wall Street, so his choice as SEC chair will provide some insight on which direction he plans to take when it comes to Wall Street.