Schapiro Is Credited With Reversing Course at a Beleaguered SEC

Mary Schapiro, who announced this week she would step down as chairwoman of the SEC on Dec. 14, is credited for bringing new life to the SEC in the wake of the financial crisis. But Schapiro also has been faulted for not acting more forcefully to repair an agency with a reputation that had been pummeled in the wake of allegations that it had ignored clear evidence of Bernard Madoff's financial fraud.

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