Cox Would Implement Options Expensing

Christopher Cox (R-CA), President Bush's nominee to head the Securities and Exchange Commission 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. But Cox told Senators at his confirmation hearing that he will implement the new accounting rules. There had been some hope among options expensing foes that Cox would slow down or even derail expensing, but on July 26, he told the Senate Banking Committee that "I will ensure that the Securities and Exchange Commission builds upon the record as already established and that the rule is implemented as the markets expect."