July 26, 2005

SEC nominee Cox backs implementing options rule

WASHINGTON (Reuters) - Rep. Christopher Cox, the White
House's choice to head the U.S. Securities and Exchange
Commission, said on Tuesday that if confirmed by the Senate he
would ensure implementation of a new rule that requires
companies to treat stock options as a business expense.

At his Senate Banking Committee confirmation hearing, Cox
said, "I will ensure that the Securities and Exchange
Commission builds upon the record as already established and
that the rule is implemented as the markets expect."