As the S.E.C. chairwoman, Ms. White would have a hand in every decision of importance. But the conflict-of-interest rules could force Ms. White to recuse herself from some matters. If that happens, it could raise the prospect of a 2-2 split along party lines among the other commissioners. Currently, it’s a highly polarized group, so her recusal could effectively freeze the S.E.C. from moving on an issue.
‘Enforcement 40’ for 2020
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