Schapiro to lead SEC

Published: 5:16AM Friday December 19, 2008 Source: Reuters

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  Barack Obama - Source: Reuters

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US President-elect Barack Obama on Friday named longtime financial industry regulator Mary Schapiro to head the Securities and Exchange Commission amid calls for reform of the agency in the wake of a massive investment fraud scandal.

Obama also named Georgetown University law professor Daniel Tarullo to fill one of two vacancies on the seven-seat Federal Reserve Board, which is battling to ease a credit crisis and fend off a deepening recession.

And he picked former Treasury official Gary Gensler to head the Commodities Futures Trading Commission, which regulates the US commodity futures and options market.

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