From 1988 to 1993, Mary Schapiro served as SEC Commissioner. In 1993, President Bill Clinton appointed Schapiro Acting Chairman of the SEC, then appointed her Chairman of the Commodity Futures Trading Commission in 1994. In 1996 she joined the National Association of Securities Dealers (NASD) (now the Financial Industry Regulatory Authority) as the president of NASD Regulation. In 2006 she became NASD's Chairman and CEO. In January 2009 she became the SEC's 29th SEC Chairman. After leaving the SEC, Schapiro joined Promontory Financial Group in 2013 as Advisory Board Vice Chairman. She was one of the founding Trustees of the SEC Historical Society.
Wallace “Wally” Timmeny served in several positions at the SEC from 1965 – 1979, from assistant director in the Criminal Reference and Special Proceedings unit of the Division of Trading and Markets under Irving Pollack to Deputy Director of the SEC’s newly-created Enforcement Division under Stanley Sporkin. During his tenure, he led the SEC’s early efforts to combat municipal securities fraud, was a key player in the Enforcement Division’s famous “voluntary program,” and had first-hand experience with Sporkin’s ‘access theory’ regarding the role of lawyers, accountants and other ‘gatekeepers’ in enforcement cases.
The founding of the Public Company Accounting Oversight Board.
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