1/16/2009

Mary Schapiro, President-elect Barack Obama's nominee to lead the Securities and Exchange Commission, testified Thursday before a Senate committee that she would aggressively reshape the SEC's enforcement efforts. Schapiro said that she would move quickly to create a new process for handling tips received by the agency, and she indicated there may be a need to expand the authority of the PCAOB. Schapiro said she has concerns with the SEC's current road map for transitioning U.S. public companies to International Financial Reporting Standards.

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