Cox will have to walk fine line at SEC

Christopher Cox's nomination to chair the Securities and Exchange Commission may throw cold water on the hotly debated Sarbanes-Oxley Act.

Cox is a pro-business Newport Beach, Calif., Republican congressman. And Sarbanes-Oxley has been coming under increasing fire for being too burdensome and costly to businesses. But shareholders, to whom businesses are supposed to report, are calling for increased corporate governance and accountability -- the very things Sarbanes-Oxley mandates.

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