Bush picks Republican lawmaker to run SEC Boston Globe
President Bush nominated conservative Representative Christopher Cox as chairman of the Securities and Exchange Commission yesterday, prompting speculation that the agency could take a more pro-business approach. Business organizations praised Bush's selection of the California Republican and said they expected that he would focus more on regulatory reform rather than on the enforcement and stiffer rules that characterized the turbulent reign of departing chairman William Donaldson. Critics said they feared that Cox would pull back from aggressive SEC enforcement, which has resulted in big fines for some of America's largest companies in recent years and in tougher accounting and corporate governance regulations.
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