August 04, 2006
Mr. Cox. Has it already been one year?
Time flies when you are head of the Securities & Exchange Commission (SEC). Christopher Cox, as the first Congressman ever appointed to head the SEC, has had an extremely busy year with a variety of initiatives including:
- Interactive data and XBRL initiatives
- Further review of the implementation of Internal Control Reporting provisions (SOX 404) and action to ensure that the PCAOB improves external auditor work with respect to internal control audits
- Protection of seniors from investment fraud
- Hedge fund regulation (oops!)
- Regulations NMS (National Market System) initiatives to provide a more level quotation and pricing "playing field"
- International initiatives to begin the march towards more global market rule harmonization (IFRS and U.S. GAAP)
- and lots more
We knew that William Donaldson, the previous head of the SEC, was going to be a hard act to follow. Cox has done a strong job in year one. The future is going to be very interesting for Mr. Cox. I wouldn't be surprised to hear his name being mentioned in 2007 as a potential Republican presidential candidate.
