Mary L. Schapiro: “We have worked tirelessly to make the SEC a more vigilant, agile, and responsive agency over the past 2 years.”

It seems to me that we have to build a system in this country that makes people want to do business here because a race to the bottom will not serve anybody well.

The worst result I think we could have would be for investors to lose confidence generally again, as they did after Enron, in the quality and the integrity of financial statements.

I think in the first instance, we have got to take care of retail investors. This is really a disgraceful situation in many ways.

I believe that the definition of 'accredited investor' as it stands today does a poor job of screening out people who are unsophisticated.