Mon, Sep 1, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Shapiro, head of SEC steps down, Elisse Walter appointed to replace her

Tuesday, November 27, 2012

Bailey McCann, Opalesque New York: After nearly four years in office, SEC Chairman Mary L. Schapiro today announced that she will step down on Dec. 14, 2012. Shapiro has been a controversial Chairman, leading the Commission through the 2008 financial crisis and ushering in a new wave of regulation. Chairman Schapiro is one of the longest-serving SEC chairmen, having served longer than 24 of the previous 28. She will be replaced by Elisse Walter, an existing member of the Commission.

By choosing an acting member of the Commission, Walter will be able to serve through 2013 without having to go through a Senate confirmation process as she was already confirmed to her original post. After this period, the Obama administration is expected to appoint a more permanent Chair, treasury official, Mary John Miller, has already been floated as a possible contender for the post. Walter previously served as a member of FINRA and was originally appointed by President George W. Bush.

Schapiro's leadership has been challenged throughout the financial collapse and its subsequent aftermath. Both the Chairwoman and Commission were faulted for lax oversight that led to the collapse of Lehman Brothers. However, she has been successful in winning some of the largest settlements against financial services firms in the wake of 2008.

"It has been an incredibly rewarding experience to work with so many dedicated SEC staff who strive every day to protect investors and ensure our market......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest