WASHINGTON — Securities and Exchange Commission Chairman Mary Schapiro will leave the agency next month in significantly better shape than she inherited it nearly four years ago, but without completing the arduous task of fully implementing Dodd-Frank.

After the SEC formally announced Schapiro's Dec. 14 resignation on Monday, observers were quick to laud the agency chief for helping to redeem an agency badly damaged after the Bernard Madoff scandal came to light in late 2008.

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