Obama Administration

Obama Selects SEC Commission Member as New Chair

Expected to continue path of outgoing head

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President Barack Obama chose Elisse Walter, one of five members of the Securities and Exchange Commission, to head the agency. Chairman Mary Schapiro will leave next month after a tumultuous tenure in which she helped lead the government's regulatory response to the financial crisis.

Walter will take over at a critical time for the SEC, which is finalizing new rules in response to the 2008 crisis. She likely will follow the path Schapiro set at the SEC, experts suggest.