Mary L. Schapiro American politician, economist Date of Birth: 19.06.1955 Country: USA

1. American Politician and Economist
2. Career
3. Recognition and Advocacy

American Politician and Economist

Mary Shapiro is an American politician and economist who served as the 29th chair of the U.S. Securities and Exchange Commission (SEC). Born in New York City, Shapiro grew up in a Jewish family. She graduated from Franklin & Marshall College in 1977 and received her law degree from George Washington University Law School in 1980.

Career

In 1988, President Ronald Reagan appointed Shapiro to one of two vacant "Democratic" seats on the SEC, a position that was later confirmed by President George H. W. Bush in 1989. During President Bill Clinton's administration, Shapiro became the acting chair of the SEC and was later appointed by Clinton to chair the Commodity Futures Trading Commission.

In 1996, Shapiro joined the National Association of Securities Dealers (NASD) and eventually became its president in 2002. In 2006, she was appointed as the chair and CEO of the association, where she oversaw the merger of NASD with the New York Stock Exchange (NYSE). In January 2008, President George W. Bush appointed Shapiro as a member of the President's Advisory Council on Financial Literacy.

Recognition and Advocacy

In the same year, Investment Advisor magazine included Shapiro in their list of the 25 most influential people in the investment business. Shapiro has been an advocate for increased regulation in the financial markets. Previously, she had expressed her belief that the financial markets were overloaded with various rules and regulations. However, she later changed her position and became a proponent of intensive regulation.

More recently, Shapiro has stated that the 2008 financial crisis was a result of inadequate control over financial flows. In January 2009, the Senate unanimously supported President Barack Obama's nomination of Shapiro as the chair of the SEC, making her the first woman to hold this position on a permanent basis.

Through her career in government and finance, Shapiro has become a prominent figure in the field of securities regulation and has made significant contributions to the oversight and regulation of the financial industry.