When Mary Schapiro took office as chairman of the Securities and Exchange Commission last year, she faced a myriad of issues related to the financial crisis—and outlined a series of new regulations that, so far, have come up short, The Washington Post reports.
So far, there have been no limits on short selling from driving down stocks during periods of market volatility. No new regulations to tamp down overly risky financial products or better control capital markets. No new proxy rules to enable shareholders to nominate directors. No overhaul of credit ratings to make sure they are accurate and free of conflicts of interest. No curbs on referral fees to consultants to state pension plans. Not to mention--no restrictions on mutual fund 12b-1 fees or more transparency on 401(k) fees.