Outlook 2013: Securities Regulation
Professor Joe Grundfest spoke with BNA's Yin Wilczek about how the Securities and Exchange Commission can "expect litigation challenging a large percentage of the major rules that it will be adopting" this year.
The White House, in an announcement that caught many by surprise, Jan. 24 said it is nominating former federal prosecutor Mary Jo White to be the next chairman of the Securities and Exchange Commission.
White—currently a litigation partner at Debevoise & Plimpton LLP in New York—was the U.S. Attorney for the Southern District of New York from 1993 to 2002. She is the only woman to have held that job.
The SEC already is litigating challenges to its specialized disclosure rules on conflict minerals (44 SRLR 2280, 12/17/12) and resource extraction (45 SRLR 95, 1/21/13), both of which were mandated by Dodd-Frank. "Indeed, given the stakes, the commission can pretty safely expect litigation challenging a large percentage of the major rules that it will be adopting," said Joseph Grundfest, a former SEC commissioner who now teaches at Stanford Law School.