White made the remarks during a U.S. House of Representatives panel on Tuesday.
High frequency trading has been in the public spotlight since author Michael Lewis' recent book "Flash Boys," in which he wrote about how Wall Street banks, stock exchanges and high frequency traders engaged in a number of questionable tactics to profit at the expense of average investors. Lewis also took aim at the SEC, suggesting some of the agency's investigators weren't very interested in protecting investors from the predatory practices of high frequency traders.