Word: schapiro
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Hoping to show she's got the right stuff, Mary L. Schapiro, 15 days on the job as chairwoman of the besieged Securities and Exchange Commission (SEC), took her first steps this week in shaking up the agency. She simultaneously secured an agreement with Bernard Madoff, worked on gaining tips about two more Ponzi schemes and waved goodbye to her chief enforcement officer, Linda Thomsen, who resigned...
FINRA was created in July 2007 through the consolidation of NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange. The former chairman of FINRA, Mary Schapiro, is now the new head of the SEC, selected by President Obama and approved by the Senate Banking Committee last month...
...More enforcement. Check. More Disclosure. Check. Better self-regulation. Check. Does Schapiro believe this is enough...
...Schapiro, according to Dunbar, is not a deregulator and "does have a good reputation as an enforcer." He says, "she'll see where enforcement is needed...
...Richard Wallace knows something about Schapiro and believes she will take bold action. Wallace worked at Schapiro's FINRA for the last 12 years, and before that was an enforcement prosecutor at the SEC. Wallace is now partner at the law firm Foley & Lardner, chief counsel of its financial industry regulatory authority practice. "Within a few months of coming on board at FINRA, Mary brought charges against Banker's Trust Securities," Wallace says. "She jumped right in, she beefed up enforcement, and wasn't afraid at all to take on powerful interests. She was an enforcement officer once, and enforcement...