SEC Chairman Cox Resigns

Law360, New York (January 21, 2009, 12:00 AM EST) -- As he had long promised to do once the Bush administration ended, U.S. Securities and Exchange Commission Chairman Christopher Cox resigned from his post on Tuesday as President Obama took office.

Cox's departure was not formally announced by the commission, but it was confirmed by an SEC spokesman and was effective immediately. In addition to his duties as chairman, Cox also left his position as one of the five members of the SEC.

Obama has nominated Mary Schapiro, the CEO of the Financial Industry Regulatory Authority,...
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