Schapiro Confirmed By Senate For SEC

Yesterday, the U.S. Senate confirmed Mary L. Schapiro to serve as a commissioner on the U.S. Securities and Exchange Commission, with a term expiring June 5, 2014. For all intents and purposes, this clears the way for her to serve in the position for which she was nominated by President Barack Obama: as Chairman of the SEC. See Senate Daily Digest for Thurs. Jan. 22, under heading: Nominations confirmed, and see this FINRA press release issued earlier today - entitled “FINRA Board of Governors Launches Search to Replace Schapiro; Stephen Luparello to Serve as Interim FINRA CEO” - which notes Schapiro’s nomination to become chairman of the SEC was approved by the Senate yesterday. According to Andrew Ross Sorkin’s Dealbook on nyt.com, in Schapiro Approved as SEC Chairman, the Senate vote was unanimous.