Schapiro approved as new SEC chairman (Reuters)

Mary Schapiro, then President-elect Barack Obama's choice to head the Securities and Exchange Commission, speaks after being introduced during a news conference in Chicago December 18, 2008. (Jeff Haynes/Reuters)Reuters – Veteran securities regulator Mary Schapiro was approved by the U.S. Senate on Thursday to head the Securities and Exchange Commission where she will face the challenge of reinvigorating the agency criticized for missing one of the biggest investment frauds in history.

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