Both the SEC and the Financial Industry Regulatory Authority (FINRA) are reviewing stock lending practices in light of the 2008 credit crisis in which pension funds suffered significant losses through the practice. The Chairman of the SEC, Mary Schapiro, has announced that the SEC is conducting a “wholesale review” of stock lending practices in an effort to promote transparency and mitigate conflicts of interest. FINRA is also considering rules for stock lending practices and has noted that broker-dealers are now lending stock from retail customers raising issues relating to conflicts of interest and loss of voting rights.