Congrats to Mary Schapiro, SEC Chair Nominee

Mary Schapiro.jpgUS President-elect Barack Obama announced his intention to nominate Mary Schapiro as Chair of the Securities and Exchange Commission. We at GW Law School, from which Ms. Schaprio graduated in 1980, are delighted. We wish her well in what promises to be a very difficult period for the SEC. Already, questions arise about the orientation Ms. Schapiro will bring, raised sharply in Susan Antilla’s Bloomberg column today. From the Obama transition team web site is the following biography of Ms. Schapiro.

Schapiro is Chief Executive Officer of the Financial Industry Regulatory Authority (FINRA), the largest non-governmental regulator for all securities firms doing business with the U.S. public. Schapiro also serves as Chairman of the FINRA Investor Education Foundation. Schapiro joined the organization in 1996 as President of NASD Regulation and was named Vice Chairman in 2002. In 2006, she was named NASD’s Chairman and CEO.

In 1994, Schapiro was appointed by President Clinton as Chairman of the federal Commodity Futures Trading Commission. Before that, Schapiro served for six years as a Commissioner of the Securities and Exchange Commission. In January 2008, Schapiro was appointed by President George W. Bush to the President’s Advisory Council on Financial Literacy, a 19-member council formed to promote and enhance financial literacy among Americans. She is also an active member of the International Organization of Securities Commissions (IOSCO) and was Chairman of the IOSCO SRO Consultative Committee from 2002 until 2006.

A 1977 graduate of Franklin and Marshall College in Lancaster, PA, Schapiro earned a Juris Doctor degree (with honors) from George Washington University in 1980.

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