White Testimony, Basel Leverage, Money Funds: Compliance

Mary Jo White, President Barack Obama’s choice to run the U.S. Securities and Exchange Commission, told lawmakers that her work for Wall Street firms won’t affect her ability to be a zealous advocate for investors.

The scope of any conflicts of interest is “quite narrow” and would mostly affect SEC enforcement cases, White, 65, said yesterday at a Senate Banking Committee hearing on her nomination. Her participation in writing regulations will be unaffected by her previous representation of clients such as JPMorgan Chase & Co., Morgan Stanley and UBS AG as a defense lawyer, she said.