Source Pravda.Ru

Christopher Cox is nominated to lead the Securities and Exchange Commission

U.S. Representative &to=http:// english.pravda.ru/main/18/88/354/15518_baltics.html ' target=_blank>Christopher Cox, a former securities lawyer who wrote legislation curbing shareholder lawsuits, was nominated today by President George W. Bush to lead the &to=http:// english.pravda.ru/comp/2002/09/04/35983.html ' target=_blank>Securities and Exchange Commission.

``Chris Cox knows that a free economy is built on trust,'' Bush said today. ``I've given Chris a clear mission to continue to strengthen public trust in our markets.''

Bush's nomination of the 52-year-old California Republican to succeed William Donaldson as SEC chairman pleased business and securities-industry groups, which have complained that Donaldson favored too much regulation and excessive fines, tells Bloomberg.

Cox, 52, a member of the House Republican leadership, has a wide-ranging background, from foreign policy and economic issues to homeland security. He has represented California in the US Congress for 16 years.

"I've given Chris a clear mission: to continue to strengthen the public trust in our markets so the American economy can continue to grow and create jobs,' Bush said. He called on the US Senate to confirm Cox "at the earliest possible date."

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