Obama to name Mary Schapiro SEC chief

WASHINGTON (MarketWatch) — President-elect Barack Obama on Thursday made two major picks to head key regulatory agencies, and called for significant changes to the financial-regulatory system in the wake of the credit and economic crisis.

He chose veteran financial regulator Mary Schapiro to head the embattled financial regulator Securities and Exchange Commission and former Treasury undersecretary Gary Gensler to run the Commodities Futures Trading Commission, which regulates trading in the commodities markets.

Source: http://www.marketwatch.com/news/story/veteran-regulator-mary-schapiro-tapped/story.aspx?guid={BF96E0EC-A2FF-41FC-8985-AD6E1ED3DB88}&dist=msr_1

Statement From SEC Chairman Christopher Cox

Washington, D.C., Dec. 18, 2008 — Securities and Exchange Commission Chairman Christopher Cox today made the following statement:

“I commend President-elect Obama on his outstanding choice of Mary Schapiro to chair the Securities and Exchange Commission after my service ends next month. I have worked closely with Mary for many years on a wide range of financial industry and market regulation efforts, including the creation of FINRA and the protection of senior investors, and she has always been a consummate professional. Her experience at both the CFTC and SEC will be invaluable in tackling the challenges of regulatory restructuring that the next Congress will face. She is deeply committed to protecting investors and ensuring the integrity of our markets, and I know that the employees and alumni of the SEC join me in congratulating Mary and wishing her a smooth and expeditious confirmation.”

Source: http://www.sec.gov/news/press/2008/2008-299.htm