WASHINGTON - Mary Schapiro, who announced this week she would step down as chairwoman of the U.S. Securities and Exchange Commission on Dec. 14, is credited by securities law experts for bringing new life to the SEC in the wake of the financial crisis.
But Schapiro also has been faulted for not acting more forcefully to repair an agency with a reputation that had been pummeled in the wake of allegations that it had ignored clear evidence of Bernard Madoff’s financial fraud. And she has been scolded for not doing more to hold top Wall Street executives accountable for the crisis, and was called to testify on Capitol Hill about the agency’s progress almost four dozen times.
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