SEC’s work never more urgent, says Cox

SEC chairman opens roundtable on transparency with warning about the importance of its task

SEC chairman Christopher Cox said that the work of the watchdog has never been more urgent as he opened roundtable discussions on transparency in the financial markets.

As the regulator gathered market stakeholders together to discuss how companies can improve disclosure and reduce hidden risks, Cox opened the session with a stark warning on the importance of the task.

‘When the SEC was founded nearly 75 years ago, a fundamental purpose was to restore investor confidence in our capital markets by providing investors and the markets with more reliable information,’ he said. ‘Never in this agency's history has this fundamental mission been more relevant, and more urgent. The current credit crisis has shown the importance of transparency to a healthy marketplace – and how costly hidden risk can be.’

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