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Veteran US prosecutor to head SEC

Mary Jo White, pictured on May 29, 2001 in New York City
The White House will nominate on Thursday veteran New York prosecutor Mary Jo White, pictured on May 29, 2001 in New York City, to lead the Securities Exchange Commission, a White House official said.

The White House will nominate on Thursday veteran New York prosecutor Mary Jo White to lead the Securities Exchange Commission, a White House official said.

White's record includes prosecuting high-profile white-collar and financial fraud crimes as well as cases related to the 1993 World Trade Center bombing and the bombings of US embassies in Africa in 1998.

She has also served on the board of the Nasdaq exchange.

"Throughout her distinguished career, White has built a reputation as a tough and effective attorney with a proven record of bringing criminals to justice," the official said.

Her experience "makes her well positioned to implement Obama's Wall Street reform legislation."

White will replace Mary Schapiro, who resigned as SEC chairwoman in December.

The official said that President Barack Obama will also nominate Richard Cordray as permanent head of the Consumer Financial Protection Bureau, which he has led under a short-term recess appointment since last year.

The two nominations will "help ensure we are effectively implementing these reforms so that Wall Street is held accountable and middle class Americans never again are harmed by the abuses of a few," the official said.

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