Mary Schapiro lands in hot seat again

Investment News-“This is a tough situation for Chairman Schapiro because the SEC is cast with overseeing Finra, which this case shows has been altering documents, and recently the SEC itself came under fire for destroying documents,” said Denise Voigt Crawford, a Texas Tech University Law School professor, retired Texas securities commissioner and former president of the North American Securities Administrators Association Inc.

For SEC Chairman Mary Schapiro, last week's dust-up involving Finra is the latest in a string of embarrassments she has endured since taking over the embattled agency in 2009.

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“This is a tough situation for Chairman Schapiro because the SEC is cast with overseeing Finra, which this case shows has been altering documents, and recently the SEC itself came under fire for destroying documents,” said Denise Voigt Crawford, a Texas Tech University Law School professor, retired Texas securities commissioner and former president of the North American Securities Administrators Association Inc.

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