Federal Government Policy and Business

SEC chair to step down, clearing path for Trump to eliminate tough Wall Street regulations

The Washington Post: NEW YORK — Mary Jo White, the head of the Securities and Exchange Commission, announced Monday that she will step down two years before the end of her term, clearing the way for President-elect Donald Trump to reshape the way Wall Street is regulated.

The SEC, which polices Wall Street and the financial markets, has been a key part of the Obama administration’s effort to rein in big banks following the 2008 financial crisis and prevent future taxpayer bailouts of the industry. The agency has pushed for more oversight of hedge funds and other asset managers and has established rules that make it more difficult for big banks to make risky bets on the markets.

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