Critics have longed for a meaningful overhaul of the SEC ever since New York prosecutor Eliot Spitzer pantsed the agency by bringing a string of blockbuster cases against Wall Street more than a decade ago.

WSJ: Writing on the Wall: What Can Help Restore Investor Trust? Maybe the SEC

But with a long string of crises and scandals on Wall Street over the past year, the president-elect said he wanted to waste no time filling the job.

NPR: Obama Names SEC Pick

The company posted a long string of disappointing quarters, coming in well below Wall Street expectations.

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