Mary Schapiro resigns 27 November 2012New York Reporter: Georgina Lavers
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After being appointed by Reagan, Bush, Clinton and Obama, Mary Schapiro, one of the longest-serving SEC chairpersons, has resigned.
“I’ve been so amazed by how hard the men and women of the to get the job done,” said Schapiro. “So often they stay late or come in on weekends to polish a legal brief, review a corporate filing, write new rules, or reconstruct trading events. And despite the complexity and the intense scrutiny, they always excel at what they do.”
As a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the agency has implemented a new whistleblower programme, strengthened regulation of asset-backed securities, laid the foundation for an entirely new regulatory regime for the derivatives market, and required advisers to hedge funds and other private funds to be subject to SEC rules.
Schapiro previously served as a commissioner at the SEC from 1988 to 1994. She was appointed by Ronald Reagan and reappointed by George H.W. Bush in 1989, and named acting chairman by Bill Clinton in 1993. She left the SEC when Clinton appointed her as chairman of the Commodity Futures Trading Commissio. She is the only person to have ever served as chairman of both the SEC and CFTC.
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