It's official: Mary Schapiro has been confirmed as chairman of the Securitiesand Exchange Commission.

The Senate confirmed Schapiro on Jan. 22 for a term expiring June 5, 2014.

The veteran regulator joins the SEC from the Financial Industry Regulatory Authority, where she most recently served as chef executive. Schapiro previously served as an SEC commissioner and as chairman of the Commodity Futures Trading Association.

She succeeds Republican chairman Christopher Cox, who, as expected, stepped down as chairman on Jan. 20 when President Obama took office. Schapiro takes the helm at the SEC as the commission faces sharp criticism by some for regulatory failures that have raised questions about its oversight capabilities and its future role as lawmakers plan to overhaul financial services regulation. Both the SEC and FINRA are being investigated by Congress for their respective roles in the Ponzi scheme allegedly perpetrated by money manager Bernard Madoff.

At her confirmation hearing earlier this month, Schapiro vowed to reinvigorate enforcement at the agency, and to "take the handcuffs off" of its enforcement staff.

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