President Obama has named a new Chair of the Securities and Exchange Commission (SEC). Mary Jo White is a litigator, head of the Litigation Department at Debevoise and Plimpton. Does this signal a directional shift for the Commission? Does this mean that future SEC rules will make it easier for plaintiff's bar to litigate matters?
Already, this is one of the biggest headaches for US publicly traded corporations. Issuers of proxies are now subject to say-on-pay, say on frequency, derivative lawsuits and many other relatively new breeds of pain. Many would say that this has stemmed from, first Sarbanes-Oxley and later Dodd-Frank.
For those who would like more information on Ms. White, here is her profile page on the Debevoise website.