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President George W. Bush didn’t waste any time in filling the high-profile regulatory post being vacated by William H. Donaldson. At a ceremony Thursday morning in the Roosevelt Room, Bush moved to nominate Rep. Christopher Cox of California to head the Securities and Exchange Commission. “Christopher Cox will be an outstanding leader of the Securities and Exchange Commission,” Bush said. Bush also praised Donaldson’s work at the commission and said he had done an “exceptional” job. Bush said he was giving Cox a clear mission “to continue to strengthen the public trust in our markets.” “Chris Cox knows that a free economy is built on trust,” Bush said this morning. Cox, he said, is a “champion of the free enterprise system,” who “will vigorously enforce” SEC regulations. Cox, 52, is a graduate of Harvard Law School, and has been in Congress since 1988. He is currently the first chairman of the Homeland Security Committee which has jurisdiction over the nation’s third largest cabinet agency, the Department of Homeland Security. Cox has long been an ally of business groups and has voted for legislation to make it more difficult to file investor lawsuits against companies. Legislative observers following Cox’s actions as a member of the House Commerce Committee said he sometimes had a strong de-regulatory approach. At a hearing in the committee last year, Cox recommended retiring the Telecom Act rather than rewriting it, as most lawmakers have suggested. He said that consumers already had such a “plethora of competitive telecom and broadband options available to them.” But one person close to Cox said he was supportive of some efforts in congress to restrict the Federal Communications Commission’s ability to loosen limits on media mergers. Cox no longer is a member of the commerce committee. Cox had been on the short list of potential replacements for former SEC Chairman Arthur Levitt, who headed the agency between 1997 and 2001. At that time Cox was chairman of the House Policy Committee. In April Cox, along with two other lawmakers, introduced bipartisan legislation to make permanent the protections of the Internet Tax Freedom Act, legislation to limit taxes on Internet companies. The legislation was authored by Cox and Rep. Ron Wyden, D-Ore., in 1998. Copyright �2005 TDD, LLC. All rights reserved.

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