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May 08, 1993|From Times Staff and Wire Reports

Mary Schapiro Named Acting Chair of SEC: President Clinton named Schapiro to be acting chair of the Securities and Exchange Commission upon the departure of Chairman Richard C. Breeden. She will hold the position until Arthur Levitt Jr., Clinton's nominee to head the SEC, is confirmed, the White House said. Breeden, who has been SEC chairman since 1989, has announced his resignation and is expected to depart for private law practice on May 12. The Senate hasn't yet set a timetable for Levitt's confirmation hearings, although his nomination is widely expected to be approved. Levitt, 62, was chairman of the American Stock Exchange between 1978 and 1989. He now heads Levitt Media Inc., which publishes Roll Call, a Washington newspaper widely read by members of Congress and their staffs.

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