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Cox says he’ll enforce rules

Wednesday, July 27, 2005 | 9:32 a.m.

WASHINGTON -- Rep. Christopher Cox, the president's choice to be the next leader of the Securities and Exchange Commission, pledged at his confirmation hearing on Tuesday that he would not undo regulations recently adopted by the agency but would, in his words, "build upon them."

In his first public remarks about securities regulation since he was chosen for the post last month, Cox, an experienced lawmaker from Orange County, Calif., tried to demonstrate that, contrary to the assertions of his critics, he was not in the pocket of special interests. He suggested that he would not reopen the debate over the expensing of stock options given to executives. He promised to fight for adequate resources at the agency, and he affirmed the "substantial and vital role" of state laws and state prosecutors in policing markets.

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