Image Source: SEC

BY KERRY LEARY

ANCHOR NEVILLE MILLER

U.S. Securities and Exchange Commission chair Mary Schapiro announced Monday she’ll relinquish her post on December 14. C-SPAN reports:

“Mary Schapiro is stepping down from the Securities and Exchange Commission after reading the response to the 2008 financial crisis. She was appointed by President Obama and is credited with helping reshape the agency during a tumultuous time.”

President Obama nominated the politically independent Ms. Schapiro in 2009. She was the first woman to serve as the permanent chairwoman of the SEC. The president released a statement about Schapiro’s departure, thanking her for her hard work.

"When Mary agreed to serve nearly four years ago, she was fully aware of the difficulties facing the SEC and our economy as a whole. But she accepted the challenge, and today, the SEC is stronger and our financial system is safer and better able to serve the American people...”

The Boston Globe reports the SEC has brought a record number of cases over the last two years. It has filed actions against 129 different people and firms tied to the financial crisis. Still, some were not impressed by Schapiro’s efforts.

“Consumer advocates and other critics … say she failed to grab the bully pulpit at a time the country needed a vocal critic of Wall Street. Since the financial crisis, the agency brought few enforcement cases against the Wall Street executives at the center of the crisis.”

Mr. Obama named Ellise Walter as Schapiro’s replacement Monday. But who is she? Business Insider reports:

“Walter is a Bush appointee who served as acting Commissioner right before Schapiro was appointed in 2009. Like Schapiro, she has worked for the CFTC and FINRA before — so another D.C. insider here.”

And the New York Times notes: “As for Ms. Schapiro, few expect her to follow her predecessors and move into private legal practice, where she would defend the banks she has spent years regulating. Instead, they say she is more likely to seek out a position at a university or research group.”
 

SEC Chair Mary Schapiro Steps Down, Ellise Walter Appointed

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Nov 26, 2012

SEC Chair Mary Schapiro Steps Down, Ellise Walter Appointed

Image Source: SEC

BY KERRY LEARY

ANCHOR NEVILLE MILLER

U.S. Securities and Exchange Commission chair Mary Schapiro announced Monday she’ll relinquish her post on December 14. C-SPAN reports:

“Mary Schapiro is stepping down from the Securities and Exchange Commission after reading the response to the 2008 financial crisis. She was appointed by President Obama and is credited with helping reshape the agency during a tumultuous time.”

President Obama nominated the politically independent Ms. Schapiro in 2009. She was the first woman to serve as the permanent chairwoman of the SEC. The president released a statement about Schapiro’s departure, thanking her for her hard work.

"When Mary agreed to serve nearly four years ago, she was fully aware of the difficulties facing the SEC and our economy as a whole. But she accepted the challenge, and today, the SEC is stronger and our financial system is safer and better able to serve the American people...”

The Boston Globe reports the SEC has brought a record number of cases over the last two years. It has filed actions against 129 different people and firms tied to the financial crisis. Still, some were not impressed by Schapiro’s efforts.

“Consumer advocates and other critics … say she failed to grab the bully pulpit at a time the country needed a vocal critic of Wall Street. Since the financial crisis, the agency brought few enforcement cases against the Wall Street executives at the center of the crisis.”

Mr. Obama named Ellise Walter as Schapiro’s replacement Monday. But who is she? Business Insider reports:

“Walter is a Bush appointee who served as acting Commissioner right before Schapiro was appointed in 2009. Like Schapiro, she has worked for the CFTC and FINRA before — so another D.C. insider here.”

And the New York Times notes: “As for Ms. Schapiro, few expect her to follow her predecessors and move into private legal practice, where she would defend the banks she has spent years regulating. Instead, they say she is more likely to seek out a position at a university or research group.”
 

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