SEC Chief Schapiro Is Leaving

The Securities and Exchange Commission just confirmed that Chairman Mary Schapiro is stepping down on Dec. 14.

That word follows a report earlier this morning from The New York Times, which broke the news.

Her departure is not a surprise. Last week, The Wall Street Journal wrote that "current and former SEC officials have predicted" Schapiro would soon step down. The Journal also reported that the Treasury Department's under secretary for domestic finance, Mary John Miller, "is under consideration" to be the next SEC chairman.

In the SEC statement, Schapiro says:

"It has been an incredibly rewarding experience to work with so many dedicated SEC staff who strive every day to protect investors and ensure our markets operate with integrity. Over the past four years we have brought a record number of enforcement actions, engaged in one of the busiest rulemaking periods, and gained greater authority from Congress to better fulfill our mission."

She became chairman in 2009.