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Mary Jo White

SEC chief to step down, clearing way for Trump to slash Wall Street regulations

SEC chief to step down, clearing way for Trump to slash Wall Street regulations

Mary Jo White, the head of the Securities and Exchange Commission, announced Monday that she will step down nearly three 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 after 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 established rules that make it more difficult for big banks to make risky bets on the markets.

White, a former federal...

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