President Bush has nominated Rep. Christopher Cox to succeed William Donaldson as chairman of the U.S. Securities and Exchange Commission.[@@]
The Newport Beach, Calif., Republican has served in Congress nearly 16 years and is the fifth ranking member of the GOP.
Cox is chairman both of the House Policy Committee and of the Homeland Security Committee. He also has been an outspoken supporter of efforts to eliminate the federal estate tax and make the repeal proposed in 2001 permanent.
Before Cox was elected to the House, he worked as a lawyer in the Reagan White House. He also has worked as a securities lawyer in private practice.
The president has moved swiftly to replace the current SEC chairman, Donaldson, who announced plans Wednesday to resign June 20 and return to private industry.