Chair Nominee Could Change SEC Direction on Options

Christopher Cox (R-CA), President Bush's nominee to head the Securities and Exchange Commission (SEC) was a cosponsor of the "Broad-Based Stock Option Plan Transparency Act," a bill that would limit options expensing to the top five officers of a company. Cox will no doubt be grilled on this issue in his confirmation hearings, and his ability to change the momentum for the new rules may be limited, but he certainly adds a important voice to the anti-options expensing position on the commission.