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July 9, 2015

Sen. Warren Steps Ups Attacks on SEC; Wants More Aggressive Enforcers

Already dogged by complaints of over-enforcement by its in-house administrative courts, the Securities and Exchange Commission (SEC) is now facing attacks from Sen. Elizabeth Warren, who would like SEC enforcement to be even more aggressive.

Warren is delaying the nomination of former SEC attorney (and Democrat donor to the President) Keir Gumbs to be SEC commissioner, ostensibly because of Gumbs’ work “practicing securities law on behalf of private enterprises.”

This comes amid Warren’s public criticisms of SEC Chairman Mary Jo White for what the Wall Street Journal writes is White’s “independence and frequent unwillingness to make the agency a tool for political activism.”

So, while many voices are calling for moderation and balance in SEC enforcement, Sen. Warren is pushing for exactly the opposite by politicizing the SEC nomination process.

Read the full post here.

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