Reagan Names Mary Schapiro to Seat on SEC

Mary L. Schapiro, general counsel to the Futures Industry Assn., was named by President Reagan on Tuesday to a vacant seat on the Securities and Exchange Commission.

Schapiro, one of 32 “recess appointments” announced by the White House, was appointed to the SEC for a term to expire next June. She fills the seat vacated by former Commissioner Aulana L. Peters.

Before joining the futures industry trade group, Schapiro served for four years on the staff of the Commodities Futures Trading Commission, which regulates the industry.

If she is reappointed in June by the president, Schapiro would have to be confirmed by the Senate. Sources with the Senate Banking, Housing and Urban Affairs Committee said she likely would face intense questioning about her ties to the highly volatile commodities industry.