Elisse B. Walter

Elisse B. Walter (born April 14, 1950) was the 30th Chair of the U.S. Securities and Exchange Commission (SEC) from December 14, 2012 – April 10, 2013. She was appointed chair by President Barack Obama on November 26, 2012, and sworn in on December 14, 2012. She was originally appointed as one of five SEC Commissioners by President George W. Bush and sworn in on July 9, 2008. Under designation by President Obama, she later served as Acting Chair during January 2009. She served as a Commissioner of the SEC until August 9, 2013.

On January 24, 2013, President Obama nominated Mary Jo White to be Walter's successor as chair. White was confirmed by the Senate on April 8, 2013, and was sworn into office on April 10, 2013.

Education Walter was born to a Jewish family in New York City. Her term on the Commission ended June 5, 2012

Issues Walter has led the SEC's in-depth review of the municipal securities markets.

In August 2008 at an opening meeting of the SEC, Walter expressed her support for the implementation of International Financial Reporting Standards for U.S. companies, but cautioned that a ruling from the SEC was far from finalized. "Most important, we have to keep in mind that no one knows for certain what the future will hold," she said. "I strongly believe that we have to prepare for the alternative that the Commission will determine not to adopt, or permit the use of, IFRS for U.S. issuers. … here are significant hurdles to overcome over the next three years in order for the Commission to determine to accept IFRS reporting from U.S. issuers."

Another issue she addressed, while at the National Association of Securities Dealers, was the NASD's regulatory activities regarding inappropriate sales of certain investment products to members of the armed forces. Testifying before a congressional subcommittee in May 2006 concerning the NASD's financial education programs focused on military service members and their families, she addressed issues raised by a particular broker-dealer, First Command Financial Planning, Inc. of Fort Worth, Texas, which had been making inappropriate sales of products and services, including the sale of an investment product called Periodic Payment Plans or PPPs. First Command had targeted and sold more than a half million complicated and often extremely expensive PPPs to servicepersons. After investigation and censure, the firm was fined $12 million in December 2004. That amount included restitution, and funding for the NASD Investor Education Foundation. As of 2006, First Command informed the NASD that it has ceased selling PPPs.

Personal Walter is married to Ronald Alan Stern, who served as the chief antitrust attorney for General Electric until September 2014. They have two children. Walter has two siblings, a brother, Alan N. Walter, an attorney, and a sister, Abra J. Walter, a psychologist.

Publications Walter, E. B., "Regulating Broker-Dealers and Investment Advisers: Demarcation or Harmonization?," Journal of Corporation Law (2009) 35(1).