SEC's Schapiro doubts congressional shift will affect reform

11/10/2010 | Reuters

Mary Schapiro, chairman of the Securities and Exchange Commission, said the recent election, which shifted control of the U.S. House to Republicans, likely won't affect her agency's efforts to implement the Dodd-Frank Act. "The law's passed," she said. "And while it could change, obviously, until it does, we have a responsibility to implement the law as it was passed." Schapiro said the SEC has "a long list" of priorities but acknowledged that one area of great concern is the circuit breakers that were implemented after the May 6 "flash crash." The program for preventing a repeat of the market plunge ends Dec. 10.

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