Schapiro to Leave SEC in Mid-December; Walter to Assume Reins on Interim Basis

Ending weeks of speculation, Securities and Exchange Commission Chairman Mary Schapiro Nov. 26 announced that she will step down on Dec. 14.

Schapiro, who was appointed by President Obama in January 2009, is the first woman to serve as a permanent SEC chair, and one of the longest serving chairmen at the financial services regulator.

The White House announced that it intends to designate SEC Commissioner Elisse Walter to the chairmanship after Schapiro departs; a White House official later told BNA that while Walter will be designated as the new chairman, Obama intends to nominate someone for a full term ...