In a harshly worded 13-page letter, Sen. Elizabeth Warren last week told U.S. Securities and Exchange Commission Chairwoman Mary Jo White that she found her leadership “extremely disappointing.”
Warren, a Democrat from Massachusetts who is a critic of Wall Street, blasted White for granting waivers to banks guilty of criminal misconduct, and for her “failure to address conflict of interest concerns related to your husband’s role as a Wall Street attorney,” among other issues. Warren noted that since White became chairwoman, the SEC has granted 20 waivers that allow wrongdoers to retain their status as “well known seasoned issuers.” Such companies can raise capital and issue securities more easily.
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