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Latest Christopher Cox Stories

2008-08-26 06:00:25

Text of report in English by Japan's largest news agency Kyodo Tokyo, Aug. 26 Kyodo - Financial Services Minister Toshimitsu Motegi said Tuesday he will make a four-day visit to the United States from Wednesday for talks with US Federal Reserve Board Chairman Ben Bernanke and other senior financial officials. During the trip to Washington and New York, Motegi also plans to meet with US Securities and Exchange Commission Chairman Christopher Cox. "I hope that frank top-level discussions...

2008-08-23 03:00:14

Federal regulators said Friday that investors who bought risky auction-rate securities from Merrill Lynch & Co. before the market for those bonds collapsed will be able to recover up to $7 billion under a new agreement. The largest U.S. brokerage will buy back the securities from thousands of investors under a settlement with the Securities and Exchange Commission, New York Attorney General Andrew Cuomo and other state regulators over its role in selling the high-risk bonds to retail...

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2008-08-20 09:50:00

The U.S. Securities and Exchange Commission (SEC) announced Tuesday that it will replace EDGAR, the computer database for filing documents, with a new system that will allow investors to more easily analyze corporate reports and other financial data. "This is not just a new name for EDGAR, this is a fundamental change in the way the SEC collects, manages and distributes information," SEC Chairman Christopher Cox told a news conference on Tuesday as he unveiled the new system. Called IDEA,...

2008-07-14 09:00:21

The Associated Press WASHINGTON The Securities and Exchange Commission said Sunday that it is immediately opening an investigation to prevent the spread of false information used to manipulate securities prices. SEC Chairman Christopher Cox said the investigation is aimed at "ensuring that investors continue to get reliable, accurate information about public companies in the marketplace." The investigation will be conducted by the SEC's Office of Compliance Inspections and...

2008-07-14 09:00:05

By Gretchen Morgenson It's dispiriting indeed to watch the U.S. financial system, supposedly the envy of the world, being taken to its knees. But that's the show we're watching, brought to you by somnambulant regulators, greedy bank executives and incompetent corporate directors. This wasn't the way the "ownership society" was supposed to work. Investors weren't supposed to watch their financial stocks plummet more than 70 percent in less than a year. And taxpayers weren't supposed to...

2006-07-26 12:52:37

By Kevin Drawbaugh WASHINGTON (Reuters) - Corporations next year must start giving out more and clearer information about the pay and perks of top managers and directors under rules adopted by the U.S. Securities and Exchange Commission on Wednesday. At a time when executive pay continues to soar and with 80 companies under SEC investigation over possible stock option abuses, the commission voted 5-0 to adopt the new rules. Besides more thorough and understandable pay and perks...

2006-06-26 17:45:32

By John Poirier WASHINGTON (Reuters) - A senior Republican on the Senate Banking Committee said on Monday he wants hearings on how to protect investors in hedge funds now that the $1.3 trillion industry has freed itself from regulation by the Securities and Exchange Commission. Sen. Chuck Hagel, chairman of a subcommittee on international trade and finance, said he would also work with members of the president's financial working group to determine what oversight of hedge funds is...

2006-06-23 15:48:05

By John Poirier and Joel Rothstein WASHINGTON (Reuters) - In a major setback to the U.S. Securities and Exchange Commission's efforts to regulate the $1.3-trillion hedge fund industry, a federal appeals court on Friday tossed out a rule requiring the investment pools to register with the agency. The SEC rule, which went into effect in February, was a key first step in regulating an industry, which saw its assets double in the past five years as pension funds, endowments and...

2006-06-14 11:22:25

WASHINGTON (Reuters) - The U.S. Senate Banking Committee on Wednesday voted to approve its own Republican staff director as a member of the Securities and Exchange Commission, sending the nomination to the Senate floor. The committee voted unanimously to approve Kathleen Casey, 40, who has worked for Senate Banking Committee Chairman Richard Shelby and the committee for 13 years, since graduating from law school. The panel also approved the nomination of Sheila Bair as chairwoman of...

2006-05-15 17:19:33

By Kevin Drawbaugh WASHINGTON (Reuters) - The longest-serving member of the U.S. Securities and Exchange Commission plans to resign after her term ends this summer, the SEC said on Monday. Cynthia Glassman, a Republican economist who frequently has urged the SEC to consider the costs of its rules, is serving a term that began in 2002 and ends on June 5. She could leave at that time, but no replacement for her is waiting in the wings, said sources close to the SEC. That raises two...