Tim Ryan, president and CEO of the Securities Industry and Financial Markets Association (SIFMA), today issued the following statement on the announcement by President-elect Barack Obama that he will nominate Mary Schapiro as chairman of the Securities and Exchange Commission and Gary Gensler as head of the Commodities Futures Trading Commission
"The Securities Industry and Financial Markets Association is pleased with the announcement by President-elect Barack Obama that he will nominate Mary Schapiro as chairman of the Securities and Exchange Commission. Her many years of experience in financial market regulation, including her current role as CEO of the Financial Industry Regulatory Authority and key posts at the Commodities Futures Trading Commission and with the Securities and Exchange Commission, exemplary service within the industry and broad range of knowledge concerning industry operations make her well qualified for this new role. Given her background, she is prepared to step into her new role with immediate effectiveness. We applaud her commitment to enforcement and consumer protection and welcome her leadership at this critical time in the markets.
“We also recognize the coming nomination of Gary Gensler as head of the Commodities Futures Trading Commission. He is an experienced leader, having served as undersecretary for finance at the U.S. Treasury during President Clinton’s administration, and brings extensive market experience to the role as a former partner at Goldman Sachs. He is an excellent choice for this role, and will ably step in and guide the need to address financial regulatory reform in the coming year.”
