The head of the Securities and Exchange Commission, Mary Schapiro, announced on Monday she will step down from the agency on December 14.
Speculation had swirled for months that Schapiro would leave soon after the November presidential election. The announcement marks one of the first departures of President Barack Obama’s financial regulation team in the aftermath of the election.
READ ON: SEC Chairman Mary Schapiro to step down
The Occupy movement gets sophisticated
In an answer to critics who say the Occupy movement is unorganized and directionless, Occupy the SEC has formed.
In a 325 page letter it outlines changes needed to the Volcker Rule. But, as Felix Salmon points out, even if those demands are met, they mean nothing if regulators fail to enforce changes.