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Rating:Schapiro Ponders Her Fate as Her Commishes Write a Letter Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 19, 2012

Schapiro Ponders Her Fate as Her Commishes Write a Letter

News summary by MFWire's editors

Wish Mary Schapiro well. The head of the SEC is recuperating from an illness, according to media reports. The time away from the desk is also reportedly causing her to consider her future.

That may mean she will resign before the end of the year, is the takeaway we learn from the New York Post. The paper adds that she may give notice before November's election.

The Post relies on an unnamed SEC official (of course):
"I suspect sometime after the election regardless of how the election turns out she will say, 'I'm outta here,"' said one former SEC official.
The Post adds that "chatter surrounding Schapiro's status ... has reached a crescendo in the past few days."

Meanwhile, Bloomberg reports an unidentified source as telling it that Schapiro had "surgery on Thursday, Sept. 13, and has been working from home since the following day."

Neither news source details what exactly is ailing Schapiro. She is set to return to the office tomorrow after taking leave last Thursday. Whatever it is, it cannot be too serious, as Bloomberg reports that she "has been working from home as she recovers."

The report also details that she is "just frustrated" and that the money market fund reform push has "created bad blood within the SEC."

Speaking of money fund reform, Bloomberg reports separately that a majority of the SEC commissioners are "seeking a study of money-market regulations."

Again, the source is unnamed.

The report is that Daniel Gallagher and Troy Paredes, the two Republican commishes, joined with Democrat Luis Aguilar to pen a letter with the request to Schapiro.

The letter was reportedly written on Monday. Presumably, they are in the loop enough to have had it messengered to her home and she won't find it on her desk when she returns to work tomorrow.

The letter is said to "call for an analysis of whether certain rules could disrupt money-market funds and short-term credit markets," the unidentified source told Bloomberg

Correction: An earlier version of this story mistakenly attributed a quote from the New York Post to a Bloomberg report.

Edited by: Sean Hanna, Editor in Chief


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