(Jun 14) During a debate over disclosure to investors, when Sen. Elizabeth Warren (D-Mass.) told SEC Chair Mary Jo White she is "more disappointed than ever" with White's leadership, Chair White shot back
"I'm disappointed in your disappointment." On a more productive note, White told members of the Senate Finance Committee that she has asked staff to recommend proposed rules requiring independent compliance assessments for registered investment adviser, and that her agency
- is working on re-proposing a measure aimed at barring bets against asset-backed securities by underwriters and securitization participants to root out conflicts of interest that might harm investors
- is developing a recommendation that the SEC propose new requirements for stress testing by large investment advisers and companies
- will propose a rule "imminently" on order routing.