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Chronicling Schapiro's SEC Tenure

According to a recent Bloomberg article, Chairman Schapiro is tired of the late nights and constant policy battles and she is “eager to depart after the November election.”  The article chronicles SEC Chairman Schapiro’s tenure at the agency, including several of the policy challenges she has faced.  Of particular note to funds, Bloomberg provides color on the events leading up to and after the Chairman’s decision not to bring her money market fund reform proposal to a vote.  For example, the article states that Commissioner Aguilar informed Chairman Schapiro only a week before the scheduled August 29th vote that he would not support the proposal.  In addition, Chairman Schapiro’s public statement regarding the canceled money market fund vote reportedly did not sit well with some dissenting Commissioners.  “[Commissioner] Gallagher, for instance, read the statement in a news story while taking a train home. He called Schapiro from his mobile phone, blasting her for not warning him, according to a person familiar with the matter who spoke on condition of anonymity because the talk was private.”