Sat, Jun 24, 2017
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. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  2. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  3. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  4. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to

  5. Barclay Hedge Fund index gains 0.50% in May, 4.13% YTD[more]

    Hedge funds gained 0.50% in May according to the Barclay Hedge Fund Index compiled by BarclayHedge. The Index is up 4.13% in 2017. The Barclay Hedge Fund Index has now been profitable for seven months in a row, with a cumulative gain of 6.10%. The Barclay Technology Index has gained 12.27% in the fi