Former Securities and Exchange Commission official Meredith Cross is rejoining the agency as the new director of its corporation finance division. Compliance Week reported Tuesday that SEC Chair Mary Schapiro made the appointment, bringing Cross from the Washington, D.C. office of WilmerHale, where she led the law firm's corporate practice group.

Cross first served the SEC from 1990 to 1998. She began as an attorney fellow in the Office of Chief Counsel's corporation finance division, and eventually became deputy director of the division. Several former SEC officials, including some who have previously held Cross' new position, say Schapiro made a wise choice.

Former director of the SEC's Division of Corporation Finance Brian Lane, who worked with Cross in the 1990s, says she will be "excellent." Lane told Compliance Week:

"She is a strong advocate for investors and the SEC staff, while being pragmatic in identifying workable solutions to challenging legal issues."

In an SEC press release, Cross says simply, "I am honored and grateful that Chairman Schapiro has given me the opportunity to come back to the SEC at this challenging time."