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SEC Chair Mary Schapiro Stepping Down

Mary Schapiro

Mary Schapiro, chairman of the Securities and Exchange Commission, will stepp down from her post Dec. 14 after four years, the agency announced Monday.

The agency said Schapiro is one of the longest-serving SEC chairmen, having served longer than 24 of the previous 28 chairmen.

She was appointed by President Barack Obama on Jan. 20, 2009 and unanimously confirmed by the Senate.

During her tenure, the agency implemented a new whistleblower program as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The agency also created a consolidated audit trail for agencies in reconstructing trades during her tenure.

Schapiro previously served as a commissioner at the SEC from 1988 to 1994 and was named acting chairman by President Bill Clinton in 1993.

She then served as chairman of the Commodity Futures Trading Commission until 1996, becoming the only person to have ever served as chairman of both the SEC and CFTC.

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