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Mary L. Schapiro is Chairman and CEO of NASD, the world's largest private sector securities regulator.
As the primary regulator of 5,200 U.S. securities brokerage firms and the nearly 700,000 registered brokers who do business with the public, NASD has responsibility for writing rules that govern the conduct of virtually all aspects of the securities business, including sales practices and financial and operational integrity; examining firms for compliance with those rules; and enforcement of NASD rules, the rules of the Municipal Securities Rulemaking Board and the federal securities laws. NASD operates TRACE (the corporate bond transaction reporting facility), CRD (the repository for broker licenses), and the Alternative Display Facility.
NASD also reviews regulated firms' advertisements and corporate financing arrangements, administers qualifications exams and continuing education to registered persons, provides a range of educational resources and tools for investors and brokers, and provides comprehensive regulatory services to The Nasdaq Stock Market and the American Stock Exchange. Through the NASD Investor Education Foundation, NASD funds research and programs designed to promote investor literacy.
Ms. Schapiro joined NASD in 1996 as President of NASD Regulation and was named Vice Chairman in 2002. Before assuming her present duties, Ms. Schapiro was Chairman of the federal Commodity Futures Trading Commission. She was appointed by President Clinton in 1994. The CFTC is responsible for regulating the US futures markets, including financial, agricultural and energy markets. As Chairman, she participated in the President's Working Group on Financial Markets with the Secretary of the Treasury and the Chairmen of the Federal Reserve Board and the SEC.
Prior to assuming the CFTC chairmanship, Ms. Schapiro served for six years as a Commissioner of the Securities and Exchange Commission. She was appointed in 1988 by President Reagan, reappointed by President Bush in 1989 and named Acting Chairman by President Clinton in 1993.
Ms. Schapiro is an active member of the International Organization of Securities Commissions (IOSCO) and was Chairman of the IOSCO SRO Consultative Committee in from 2002 until 2006.
A 1977 graduate of Franklin and Marshall College in Lancaster, PA, Ms. Schapiro earned a Juris Doctor degree (with honors) from George Washington University in 1980. She is a member of the Board of Trustees of Franklin and Marshall College. She is a member of the Boards of Directors of Duke Energy and Kraft Foods. Ms. Schapiro was named the Financial Women's Association Public Sector Woman of the Year in 2000. She serves on the RAND Corporation's LRN-RAND Center of Corporate Ethics, Law and Governance Advisory Board. | 