Morgan Stanley Adds Former SEC Chairwoman to its Board

A former chairwoman of the Securities and Exchange Commission was named to the board of Morgan Stanley. The new board member, Mary L. Schapiro, led the commission from 2009 to 2012 after her appointment by President Barack Obama. She will join the Morgan Stanley board effective July 1^st. Ms. Schapiro has held several top regulatory posts relevant to the brokerage business. In the 1990s, she was the chairwoman of the Commodity Futures Trading Commission under President Bill Clinton. She also spent three years as chairwoman and chief executive of the Financial Industry Regulatory Authority.