Mary Jo White: There's No Financial Institution Too Big to Jail

Are any financial institutions too big to jail, to indict or to bar? SEC chief Mary Jo White says, "My answer to all of these and similar questions is a resounding no." White spoke at Georgetown Law, giving an insight into the priorities of the SEC, particularly disqualifications, exemptions and waivers. She emphasized that the Commission considers each exemption on a case-by-case basis. Disqualifications are not "the place to punish and deter," White pointed out; that is the role of sanctions for the underlying enforcement violation." (We heard her opinion on financial institutions, the recession and revolving door back when she was still with Debevoise.)

We snapped Home Depot general counsel Teresa Wynn Roseborough at Georgetown's Corporate Counsel Institute with Georgetown Law Assistant Dean Larry Centers. Dean Centers has headed the academic conferences and CLE department since '85. 

Teresa moderated a panel with three regulators: CFTC director of enforcement Aitan Goelman, DOJ Fraud Section senior deputy chief for litigation Kathleen McGovern and SEC Division of Enforcement director Andrew Ceresney. There's very little that's as disruptive to the markets as benchmark manipulation, Aitan said. After Libor and FX, there's no reason to assume the integrity of other benchmarks, so "we're going through and taking a very hard look at them."

During a break, we spotted two Georgetown Corporate Counsel Institute advisory board members and Georgetown Law alums: Troutman Sanders partner Sharie Brown and Murphy & McGonigle shareholder Steven Feldman.