Compliance December 17, 2008

Reports Say Obama to Tap Schapiro to Head SEC

President-elect Barack Obama has reportedly chosen Mary Schapiro, CEO of the Financial Industry Regulatory Authority (FINRA), to chair the Securities and Exchange Commission.
Reported by
The Wall Street Journal said the announcement is expected to be made in Chicago tomorrow, citing two Democratic officials.
Schapiro, 53, was appointed a Commissioner of the Securities and Exchange Commission in 1988 by President Reagan, reappointed by President Bush in 1989 and named Acting Chairman by President Clinton in 1993.
Schapiro was named President of NASD Regulation in 1996, and was named Vice Chairman in 2002. In 2006, she was named NASD’s Chairman and CEO. The following year, she led the organization’s consolidation with NYSE Member Regulation to form FINRA. Before that she was Chairman of the federal Commodity Futures Trading Commission, a post she was appointed to by President Clinton in 1994.
Data & Research December 17, 2008

Happy Regifting Day?

If you’re having your office holiday party today, you have a lot of company.
Reported by
According to a recent study by Money Management International study, the third Thursday of December is the most common day for a holiday office party. Consequently, the firm, a non-profit credit and debt counseling firm, has deemed Thursday, December 18, National Regifting Day.
Now, if you’re wondering about the connection, MMI’s survey also found that four-in-ten regifters (41%) – target coworkers as the recipients of their regifts.
Some other regifting factoids from a 2007 MMI survey:
  • Nearly seven out of ten (68%) women regift or are thinking about it (compared with only 47% of men).
  • Regifting favorability has increased by 7% in two years. Our 2005 survey showed that 54% of the respondents felt it was acceptable. In 2007, that number grew to 58%.
  • 42% of respondents said they would regift to save money — compared to only 33% respondents in 2005.
  • 25% of our respondents think that regifting is growing in popularity because consumers are doing it as a way to save on holiday expenses, while 14% attribute it to a sense that it is a form of recycling.
Regifting is becoming more widely accepted – 60% of respondents think so, according to the MMI survey. Fewer than 10% of respondents claimed they would be unhappy to receive a regift, while 18% even claimed they would be happy or amused to be on the receiving end of a regift (ok – but seriously, doesn’t that mean that 82% would NOT be pleased??).
Those sentiments notwithstanding, most regifters have good intentions, with nearly two-thirds (62%) regifting because they think it is something the recipient would really like.
For a list of regifting do’s and don’ts, and regifting party ideas, visit www.nationalregiftingday.com.

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