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Obama Chooses Bush Appointee to Lead SEC

Posted at: 11/26/2012 11:20 AM

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WASHINGTON (AP) - President Barack Obama has chosen Elisse Walter, one of five members of the Securities and Exchange Commission, to lead the agency after Chairman Mary Schapiro leaves next month.

Walter, a Democrat, was appointed to the SEC by President George W. Bush in July 2008. Before that, she was a senior official at the Financial Industry Regulatory Authority, the securities industry's self-policing organization. Walter also served under Schapiro at FINRA, who headed the organization before becoming SEC Chairman in January 2009.

Obama said in a statement: "I'm confident that Elisse's years of experience will serve her well in her new position, and I'm grateful she has agreed to help lead the agency."

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