The Senate Banking Committee held confirmation hearings yesterday on Mary Jo White’s nomination to chair the SEC. Ms. White testified that her priorities at the Commission, if confirmed, would include expeditiously enacting Dodd-Frank Act and JOBS Act rules; ensuring robust economic analysis of proposed regulations; strengthening the SEC’s enforcement function and reviewing market structure issues – including high frequency trading and dark pools. Ms. White also testified that she would take prompt action on money market fund reform, but exercise caution since she sees them as a valuable financial product. Because money funds are an investment product, she believes the SEC, not the FSOC, should take the lead in any new regulations.