CNN is reporting this evening that two Obama team insiders have said President-Elect Obama plans to tap Mary L. Schapiro as incoming SEC Chair. Schapiro certainly has a much stronger resume for the job than current SEC Chair Christopher Cox, having been appointed SEC Commissioner first by President Reagan in 1988.
It’s an interesting pick that should make financial markets insiders happy. Schapiro has the disctinction of having been appointed to various roles by Presidents Reagan, George H.W. Bush, Clinton and George W. Bush. This would make Obama’s administration her fifth consecutive call to serve.
Currently, Schapiro is CEO of FINRA. Insights into her regulatory philosophy and thought processes can be gleaned from a speech she gave at Fordham University, in January 2002.