Securities and Exchange Commission Chairman Mary Schapiro, who took the post in 2009, will be leaving the agency next month.
Schapiro is leaving the SEC in "significantly better shape than she inherited it, but without completing the arduous task of fully implementing Dodd-Frank," writes American Banker's Victoria Finkle.
"I don't think the fault lies with her or the SEC about the ability to finish Dodd-Frank initiatives. The fault with that resides with Congress, which gave her and other agencies more than they could handle at the time," said Brian Gardner, an analyst with Keefe, Bruyette & Woods.
In Schapiro's four years as chairman, the agency "brought a record number of enforcement actions, engaged in one of the busiest rulemaking periods, and gained greater authority from Congress to better fulfill our mission," Schapiro said in a press release.
Following Shapiro's departure on Dec. 14, Elisse Walter, currently a commissoner, will serve as chairman.
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