U.S. regulators seeking to increase the efficiency of anonymous trading platforms should monitor the progress of counterparts in Australia and Canada, the former chairman of the Securities and Exchange Commission said.
On a stormy night in October 2009, Mary Schapiro , the newly appointed head of the U.S. Securities and Exchange Commission, returned to her alma mater, Franklin & Marshall College in Lancaster, Pennsylvania, to be inducted into the hall of fame for student athletes. Receiving her award, she grasped the podium, confessed she was near tears and spoke of how she had never even seen a lacrosse game before attending college.
A year ago, when opposition from the asset-management industry killed her plan to make money-market mutual funds safer, U.S. Securities and Exchange Commission Chairman Mary Schapiro looked to Timothy Geithner, then the Treasury Secretary, to tackle “one of the pieces of unfinished business from the financial crisis.”
Mary Schapiro will step down next month as U.S. Securities and Exchange Commission chairman, turning over the reins to Commissioner Elisse Walter in a move industry observers say will bring little change at the agency.
Mary Schapiro’s decision to join Promontory Financial Group LLC after running the U.S. Securities and Exchange Commission amplifies the firm’s competitive advantage as an employer of former regulators.
The U.S. Securities and Exchange Commission is nearing adoption of rules for cutting references to credit ratings from regulations including those determining how much capital a broker must hold to meet obligations, Commissioner Daniel M. Gallagher said in a New York speech.