Washington (CNNMoney) - President Obama will nominate Mary Jo White, a former federal prosecutor in New York, to head the Securities and Exchange Commission, the watchdog agency that monitors Wall Street and corporate financial disclosures.

The nomination will be announced later Thursday, an administration official told CNN. In addition, Obama will nominate Richard Cordray to a full term as director of the Consumer Financial Protection Bureau. Cordray has already been heading the agency, but has been serving on a recess appointment due to Republican opposition to the agency itself, which has blocked a Senate vote on his confirmation.