Mary Schapiro Essay

1706 Words Apr 17th, 2014 7 Pages
Job was to fix the SEC. She didn’t stop there.

Vision
SEC aims to act as an agency that was high functioning, agile and intelligent, and committed to investor protection and market integrity.

Mission: Restoring SEC’s vigour and credibility within the financial regulatory
Community.

Value: vigor, credibility, high functioning, agile, intelligent, commitment, integrity. Goal:
Financial
Customer
Internal process
Learning and growth

Mary set up three strategic themes/priorities to pursue • Operational levers, • People, • and organization levers that assisted in achieving those options.

Three priorities

a) Assessing what needed to be done within the organization (internal assessment) [ First
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Chairman Schapiro also incorporated it into the SEC's operations. 2. She put devices “investor-focused agenda” in place to ensure “a Madoff” could never happen again to the agency. 3. She encouraged everyone to think and come up with an idea of “how does it help investors” 4. Hedge funds were registered for the first time. Rules were also set for over-the-counter derivatives and asset back securities. 5. She addressed the importance of understanding the risk and having transparency that is sufficient to understand the risks. Then build the structure to ensure there is compliance with all of the rules. 6. Whistleblower program was set up, which was about coordinating all tips into one central database to be able to track movement and detect securities violation, also, US Congress offer people a monetary reward if they provided information about ongoing securities law violations that led to a successful enforcement action 7. She addressed the importance of leverage, as SEC did not have adequate resources to do the job.

c) Acknowledging its mistakes 1. Visible crises can be enormously helpful in catching people's attention and pushing up urgency levels. Admissions of significant failures at the SEC extend back over many years and cover multiple areas of SEC operations, the credibility of the SEC

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