Wednesday, August 02, 2006

COX ANNIVERSARY AS S.E.C. CHAIR --
In an hour-long interview yesterday, Cox continued that tradition, speaking in measured tones on some of the most hotly contested issues before the SEC, including whether the agency should oversee investment pools known as hedge funds and how it should respond to complaints from trade groups about the expense of accounting rules.

"We're trying to go right down the center lane," Cox said yesterday of the SEC's ongoing drive to consider the costs of new audit regulations as well as their benefits. To that end, the agency is expected to announce as early as this week that it is granting foreign businesses another delay in complying with the Sarbanes-Oxley Act, a 2002 corporate-accountability law.

That move demonstrates the careful approach Cox has taken in cultivating his multiple constituencies: from visits to state regulators and the Consumer Federation of America, where he delivered an emotional speech in December, to the executive suites of businesses in the United States and abroad.