New York, NY —
President-elect Obama is expected to name Mary Schapiro to head the Securities and Exchange Commission. Schapiro is currently CEO of the Financial Industry Regulatory Authority, the largest independent regulator for securities firms. Schapiro would be the first permanent female chairman of Wall Street’s top regulator. If confirmed, the 53-year-old would take over an agency whose reputation has been tarnished by its failure to detect Bernard Madoff’s alleged $50 billion Ponzi scheme and prevent the collapse of Bear Stearns and Lehman Brothers. Schapiro is a native of Long Island.