Sunday, May 07, 2006

"Improving Financial Disclosure for Individual Investors"


by Chairman Christopher Cox, U.S. Securities & Exchange Commission.

Before the U.S. House Committee on Financial Services


Chairman Oxley, Ranking Member Frank and Members of the Committee:

This is my first formal appearance in the House since I became SEC Chairman last summer, and I am delighted to come before my former committee and my colleagues here. I am pleased to have the opportunity to report to you on the new initiatives that the SEC is taking to protect individual investors — more specifically to improve the financial disclosure they receive. While my testimony focuses on a key element of the agency's mission, I assure you that it does not cover the entire panoply of important issues the agency is dealing with on a day-to-day basis, so I am happy to be here to hear from you and to answer any questions you may have.

Introduction
As a Member of the House for 17 years, I was constantly reminded by my constituents of the real world impact of the decisions we make here in the Nation's Capitol. Like every one of you, I learned the importance of being a good listener, and of remembering that the common sense of ordinary Americans is the essence and the strength of our democracy.

See full Transcript.