News release: “President-elect Barack Obama called for a a 21st century regulatory framework to ensure that a crisis like this can never happen again in announcing the nominations of two top regulatory officials: Mary Schapiro as the Chairwoman of the Securities and Exchange Commission (SEC) and Gary Gensler as the Chairman of the Commodity Futures Trading Commission. Financial regulatory reform will be one of the top legislative priorities of my Administration, and as a symbol of how important I view this reform, Im announcing these appointments months earlier than previous administrations have, President-elect Obama said at this mornings press conference in Chicago. Schapiro is currently Chief Executive Officer of the Financial Industry Regulatory Authority, the nations largest independent regulator of securities firms. Gensler is a former Undersecretary of the Treasury and a longtime partner at Goldman Sachs.”
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