President Obama named Securities and Exchange commissioner Elisse Walter the new chair of the financial regulatory agency after Chairman Mary Schapiro announced Monday that she would be leaving the SEC next month. "The SEC is stronger and our financial system is safer and better able to serve the American people, thanks in large part to Mary's hard work," Obama said in a statement. "I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency." Schapiro's departure was "widely telegraphed," said The New York Times, after a "bruising, four-year tenure."
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