As Mary Schapiro took the lead as SEC Chair last year, she vowed to quickly pursue short-selling restrictions and other changes. More than a year later, the SEC has not established additional limits on short selling or made most of the other regulatory changes it had proposed. Today Schapiro defends the SEC's progress: "It can take more time than one might have thought at the outset," she said. "We have to understand the real-life implications of what we're doing, the unintended consequences. We need to digest all the comments and all the economic analysis. And that leads us down a path that sometimes isn't 100% predictable at the beginning."
More on this from the Washington Post.
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