Facing enormous headwinds, SEC Chairman had little choice but to resign.

We're not embarrassed to say we had hoped Ms. Schapiro would stay longer - see our commentary - [ "Mary Schapiro: Time to Shine." ]

[ by Melanie Gretchen ]

SEC Chairman Mary Schapiro on Monday announced the inevitable - that she will step down next month, on 12/14/12 - about one month short of her 4-year anniversary, and prior to the end of her 6-year term.   Chairman Chairperson Schapiro took over the Securities and Exchange Commission in the wake of the financial crisis in January 2009. 

From that point on, Ms. Schapiro applied her organization skills and detailed approach to regulation to the infrastructure of the SEC which, for years under the Bush administration, had followed a "laissez-faire" approach to securities regulation.  Ms. Schapiro "strengthened, reformed, and revitalized the agency," instilling a "more rigorous enforcement and examination program, while shaping new rules by which Wall Street must would play."

Mary Schapiro's Longevity.   While Mary fully (or in her heart) expected to complete her entire term of office, she leaves on 12/14/12 after being appointed by President Barack Obama on 1/20/09.  She was unanimously confirmed by the Senate.  Having served as Chairman for nearly 4 years, Ms. Schapiro has the distinction of serving longer than 24 or her 28 predecessors.

• in just the past 2 years alone, the agency has brought more enforcement actions than ever before, including 735 enforcement actions in fiscal year 2011 and 734 actions in FY 2012.

• implemented a new whistleblower program
• strengthened regulation of asset-backed securities
• strengthened regulation of asset-backed securities
• laid the foundation for an entirely new regulatory regime for the previously unregulated derivatives market
• required advisers to hedge funds and other private funds to register and be subject to SEC rules