SEC Chairman White Insists Banks Not ‘Too Big to Bar’

WASHINGTON—Securities and Exchange Commission Chairman Mary Jo White defended the agency’s process of granting banks reprieves from business restrictions following securities fraud settlements, saying the firms have not become “too big to bar.” Ms. White, speaking at Georgetown University, waded into a long-simmering debate among the SEC’s five commissioners over so-called waivers, which allow financial firms and other businesses to continue certain activities—like selling stakes in hedge funds—despite being automatically barred from such activities when they settle enforcement cases with U.S. authorities. More in the Wall Street Journal here.