As expected, president-elect Barack Obama has named regulatory veteran Mary Schapiro, chief executive of the Financial Industry Regulatory Authority, as his pick to lead the Securities and Exchange Commission.
Prior to taking the helm of FINRA, the self regulatory organization formed by the 2007 merger of the regulatory arms of the National Association of Securities Dealers and NYSE Regulation, Schapiro had the chairman and CEO job at NASD, where she held various posts since 1996. Schapiro also previously served as chairman of the Federal Commodity Futures Trading Commission and as a Commissioner for six years at the Securities and Exchange Commission.
