Schapiro resignation not linked to lawsuit, SEC says

Mary Schapiro
Mary Schapiro

Mary Schapiro, chair of the US Securities and Exchange Commission (SEC), is stepping down from her role.

Her announcement comes a week after David Weber, formerly assistant inspector-general for investigations at the SEC, filed a $20 million lawsuit against the agency alleging incompetence, collusion, harassment and sloppy security in relation to its handling of the Allen Stanford fraud investigation.

The most recent allegations follow criticism of Schapiro last year for failing to deal with con

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