Still Wanted: SEC Trading and Markets Chief

Still Wanted: SEC Trading and Markets Chief

Securities and Exchange Commission Chairman Mary Jo White is having difficulty finding an industry veteran or seasoned attorney to fill a top post overseeing trading firms and stock exchanges—a critical role for the agency given growing concerns about the speed and complexity of trading.

Ms. White has approached—and been turned down by—more than half a dozen senior industry officials and attorneys about possibly heading the agency’s trading and markets division, according to people familiar with the matter. The individuals she has approached include Nasdaq OMX Group Inc.’s NDAQ +0.12%Eric Noll and former Financial Industry Regulatory Authorityexecutive Stephen Luparello, who is now at a law firm.

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Be Ready for Hedge Fund Advertisements

Hedge funds soon will be allowed to advertise their wares to potential clients.

Dan Primack from CNN reports that hedge funds soon will be allowed to advertise their wares to potential clients, thanks to a provision in last year’s JOBS Act (which had no direct relation to actual jobs). As will private equity funds, venture capital funds and other alternative investment vehicles that heretofore were prohibited from general solicitation.

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