While she received a friendly reception during two hours of testimony, the Senate Banking Committee grilled Mary Jo White, the nominee for SEC chair, on her regulatory agenda, demanding that White create new rules for Wall Street that take aim at financial fraud, the New York Times DealBook blog reported today. Lawmakers argued that the agency, four years after the financial crisis, must confront a broad array of problems facing the public markets. White promised to tackle enforcement actions and unfinished regulation, but offered scant details on her plans. She did, however, signal a flexible approach to reforming money market funds, an approach that could draw scrutiny from investor advocates and liberal lawmakers.
