Mary Schapiro’s decision to join Promontory Financial Group LLC after running the SEC amplifies the firm’s advantage as an employer of former regulators.
Senate probe provided 900 pages of evidence that could help the SEC make the case that JPMorgan executives broke the law.
What Mary Schapiro considered her most important task had just run aground, a symbol of the aspirations and missed opportunities of her tenure as head of the U.S. Securities and Exchange Commission.
SEC Chairman Mary Schapiro has seen several of her key executives at the agency depart recently, adding to speculation that Schapiro may depart after the presidential election.
The heads of the SEC and CFTC both stated that there are specific criteria for banks to meet the hedge exemption allowed under the Volcker rule