In her first two weeks on the job, the Securities and Exchange Commission’s new chairman wasted no time making changes aimed at bolstering the agency’s enforcement and called for a “serious self-evaluation” of the way it operates.
As promised, Mary Schapiro, in her first speech as SEC chairman, announced the end of the Commission’s two-year “penalty pilot” program, which required the enforcement staff to obtain special approvals in cases involving civil monetary penalties for public companies as punishment for securities fraud.
