“WASHINGTON (Reuters) – The head of the U.S. Securities and Exchange Commission, Mary Schapiro, will step down in December after a tumultuous four years in which she tried to rehabilitate the agency’s battered reputation.
In a statement issued on Monday, Schapiro said she would leave the agency on December 14.
SEC Commissioner Elisse Walter will serve as chairman-designate on a temporary basis, the White House said. A White House official said President Barack Obama plans to nominate a full-term replacement in the near future.
Candidates rumored to be on the shortlist include Walter, Treasury official Mary Miller and SECenforcement director Robert Khuzami.
When Schapiro took over the agency in 2009, it was lambasted for lax oversight that critics said helped lead to the financial crisis and for its failure to catch now-convicted Ponzi schemers Bernard Madoff and Allen Stanford.”
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