Mary Schapiro Will Resign as SEC Chairman in December; Elisse Walter Was Designated to Lead the SEC

The SEC announced today that Mary Schapiro will step down as SEC Chairman on December 14, 2012.  Ms. Schapiro became chairman in the wake of the financial crisis in January 2009.  The SEC’s press release regarding her departure includes a long list of Chairman Schapiro’s accomplishments and praises her for strengthening and revitalizing the agency. 

President Obama issued a statement today on the departure of Chairman Schapiro, in which he announced that he intends to designate , a current Commissioner, as Chair upon Ms. Schapiro’s departure.

Ms. Walter, was sworn in as SEC Commissioner in July 2008. Prior to her appointment as SEC Commissioner, Ms. Walter served as Senior Executive Vice President, Regulatory Policy & Programs for FINRA. She held the same position at NASD before its 2007 consolidation with NYSE Member Regulation. Prior to joining NASD, Ms. Walter served as the General Counsel of the Commodity Futures Trading Commission (CFTC). Before joining the CFTC in 1994, Ms. Walter was the Deputy Director of the SEC Division of Corporation Finance. She graduated from Yale University with a B.A., cum laude, in mathematics and received her J.D. degree, cum laude, from Harvard Law School.

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