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SEC Chair Stepping Down, Replacement Named

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Updated: 11/26/2012 12:44 pm
Washington (AP) – The woman who helped guide the U.S. government's regulatory response to the 2008 financial crisis is stepping down.

Mary Schapiro is leaving next month as chairman of the Securities and Exchange Commission.

She took over the agency after it failed to detect the Bernard Madoff Ponzi scheme.

President Barack Obama is designating SEC commissioner Elisse Walter to replace her.
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