SEC chair Mary Jo White plans to leave her post in January, paving the way for a Republican appointment who may reduce or undo the Dodd-Frank Wall Street reforms established following the financial crisis. An appointment by President-elect Donald Trump could also reverse several other rules White created, including curbs on mutual funds' use of derivatives, and stricter controls on algorithmic traders and off-exchange venues known as dark pools. White's departure would leave just two of five commissioner seats filled, potentially resulting in gridlock as either commissioner would effectively have a veto.
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