On November 26th, SEC Chairman Mary L. Schapiro announced she will leave the agency December 14, 2012. SEC Press Release. President Obama promptly designated SEC Commissioner Elisse Walter to serve as Chairman upon Schapiro's departure. White House Statement. The Washington Post reported some fear that Schapiro's departure will mean further delays in the agency's promulgation of crowdfunding rules. Delay. Reuters discussed the challenges facing Walter, including money market reforms, Dodd-Frank Act rulemaking, market structure issues, and the possibility that the Commission will be deadlocked. Challenges. MarketWatch noted Walter's past support for municipal bond reforms. Munis. The Hill discussed investor activist hopes that the SEC will address political contribution disclosure initiatives. Campaign Disclosure. DealBook said those under consideration as possible successors to Schapiro include SEC Enforcement Director Robert Khuzami and former Bank of America executive Sallie Krawcheck. Successors.