Schapiro stepping down after leading SEC in crisis - Philadelphia News, Weather and Sports from WTXF FOX 29

Schapiro stepping down after leading SEC in crisis

Posted: Updated:
(US Securities and Exchange Commission) (US Securities and Exchange Commission)

WASHINGTON (AP) -- Mary Schapiro is stepping down as chairman of the Securities and Exchange Commission after helping lead the U.S. government's regulatory response to the 2008 financial crisis.

The SEC says Schapiro will leave on Dec. 14. She was appointed by President Barack Obama in the midst of the worst financial crisis since the Great Depression. She took over after the agency failed to detect the Bernard Madoff Ponzi scheme.

Schapiro is credited with helping reshaping the agency during a tumultuous period. But critics say she failed to act aggressively to bring charges against leading figures who contributed to the financial crisis.

It isn't clear who will replace Schapiro. But several news reports suggest Mary John Miller, a top Treasury Department official, is a leading candidate.

  • Politics NewsMore>>

  • Durbin banks more than $6M for 2014 Senate bid

    Durbin banks more than $6M for 2014 Senate bid

    Wednesday, April 16 2014 6:48 PM EDT2014-04-16 22:48:52 GMT
    Democratic U.S. Sen. Dick Durbin has banked more than $6 million for his 2014 re-election campaign.
    Democratic U.S. Sen. Dick Durbin has banked more than $6 million for his 2014 re-election campaign.
  • Kirk will campaign for Oberweis in Senate race

    Kirk will campaign for Oberweis in Senate race

    Wednesday, April 16 2014 6:40 PM EDT2014-04-16 22:40:43 GMT
    U.S. Sen. Mark Kirk says he'll now campaign for Republican U.S. Senate candidate Jim Oberweis, weeks after saying he wouldn't actively campaign for the dairy magnate.
    U.S. Sen. Mark Kirk says he'll now campaign for Republican U.S. Senate candidate Jim Oberweis, weeks after saying he wouldn't actively campaign for the dairy magnate.
  • Mixed feelings over commuter tax proposal

    Mixed feelings over commuter tax proposal

    Tuesday, April 15 2014 1:19 PM EDT2014-04-15 17:19:31 GMT
    An alderman, who first told FOX 32 News about his city income tax proposal two weeks ago, offered new details Monday and won praise from the Chicago Teachers Union.
    An alderman, who first told FOX 32 News about his city income tax proposal two weeks ago, offered new details Monday and won praise from the Chicago Teachers Union.
Powered by WorldNow

WTXF-TV
330 Market Street
Philadelphia, PA 19106-2796

Phone: (215) 925-2929
Fax: (215) 982-5494

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices