I just saw this announced on CNBC:

A Democratic official says President-elect Barack Obama has chosen Mary Schapiro to head the Securities and Exchange Commission, turning to a veteran of the agency to try to revitalize it.

Schapiro is currently the head of the Financial Industry Regulatory Authority, the largest non-governmental regulator for securities firms doing business with the public. Before that, she served as chairman of the Commodities Futures Trading Commission and six years as a member of the SEC.

Say goodbye to Chris Cox. The Bernard Madoff scandal probably sealed the deal.