Warren seeks removal of SEC head; White House rejects idea
Posted 2:07 p.m. Friday
WASHINGTON — Sen. Elizabeth Warren is calling on President Barack Obama to replace Mary Jo White as head of the Securities and Exchange Commission. Warren says White has refused to issue a rule requiring public companies to disclose political contributions.
In a letter to the president on Friday, the Massachusetts Democrat says White has "undermined" the SEC, Obama administration priorities and the best interests of investors by refusing to issue such a rule. Warren says a new SEC chair could redirect commission resources to looking out for investors.
Obama spokesman Eric Schultz says the president continues to believe White "is the right leader" for the job.