CONTRIBUTED BY
Andrew Ledbetter
andrew.ledbetter@dlapiper.com
In one of the worst kept secrets in the securities world, yesterday SEC Chair Mary Schapiro announced that she would step down on December 14, 2012, and President Obama announced that he intends to designate Elisse Walter, a current SEC Commissioner, as SEC Chair upon Ms. Schapiro’s departure. Ms. Walter will serve as SEC Chair until a long-term successor is found (who will require Senate confirmation), and she is able to serve in this role through next year (because she was previously confirmed