Obama picks SEC head and Fed governor

Barack Obama, the US president-elect, has named Mary Schapiro, the chief executive of the Financial Industry Regulatory Authority (FINRA), as the new head of the Securities and Exchange Commission (SEC). The president-elect also appointed Daniel Tarullo, a law professor, to fill one of three vacant seats on the Federal Reserve's seven-strong board of governors, and Gary Gensler, a former undersecretary of the Treasury, to chair the Commodities Futures Trading Commission.

Schapiro succeeds

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