SEC's Head Of Markets Is Latest In Stream Of Departures

Thursday, December 06, 2012 07:47
SEC's Head Of Markets Is Latest In Stream Of Departures

Tags: Dodd-Frank | regulation | sec

Last summer, rumors of Mary Schapiro’s departure from the SEC began a stream of departures from the commission, the latest of which is the SEC’s top markets official, Robert W. Cook.

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He’s been head of the SEC’s trading division since 2009, a period over which the stock market has experienced the flash crash of 2010 and numerous electronic trading glitches.
Cook led the review of the flash crash and oversaw the implementation of key aspects of the Dodd-Frank Act. He also participated in creating a new system that enables the SEC to track stock trades across markets.
Several lieutenants left the commission over the summer when rumors of Schapiro’s departure began to circulate.
Marc Cahn, the agency’s general counsel, will also step down.
Schapiro will leave on December 14 and SEC Commissioner Elisse Walter has been appointed to take her place until a permanent successor can be found.

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