SEC Chairman Christopher Cox drew praise from Republicans and criticism from Democrats during a recent oversight hearing Tuesday before the Senate Banking Committee. The WSJ
reports that Republicans praised Cox for his proposals earler this month to make it easier for public companies to conduct annual reviews of their financial-reporting controls. Democrats chastised Cox for calling on Congress to ban "soft dollar" arrangements. Sen. Charles Schumer, (D-NY), was esspecially upset, calling Cox's request "inappropriate" and said it "came as a huge surprise" in light of the fact that the SEC had already issued guidelines in this area.
Stay ahead of the news ... Sign up for our email alerts now