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Two Views of Shapiro as SEC Chair

By Mark H. Astarita, Esq.

I am a bit ambivalent about Mary Shapiro becoming the SEC Chairman. On one hand, I think she has the experience and ability to do the job, and certainly did a great job as the head of the NASD and FINRA. An added plus is that she has successfully steered the NASD and the NYSE through their merger - and the new SEC Chairman is going to have to deal with something similar.But what troubles me is the message that is being sent. Pundits can bash the SEC all day long for the Madoff Mess, but the reality is that the first line of regulation was FINRA, Mary Shapiro's organization. Shapiro and her executives give great speeches about their regulatory goals. They are all very impressive when you see them at a conference or read their speeches. But in practice, not so much...continue to full post

Full post as published by SECLaw.com on January 07, 2009 (boomark / email).