"Charles Christopher Cox (born October 16, 1952) is an American lawyer and former Chairman of the U.S. Securities and Exchange Commission...
In September 2008, the U.S. Congress passed and President Bush signed the Emergency Economic Stabilization Act of 2008, which placed Cox on the newly established Financial Stability Oversight Board that oversees the $700 billion Troubled Assets Relief Program.
Working with the Public Company Accounting Oversight Board, the SEC under Cox replaced the original auditing standard for Section 404 with a streamlined, more cost-effective version, and also provided new guidance for management intended to reduce unnecessary costs.
Under his leadership, the SEC on September 17 and 18, 2008, imposed a variety of both permanent and emergency restrictions on short selling in response to the liquidity crisis.
In September 2008, short selling of 799 financial stocks was temporarily curtailed in response to rumors accompanied by heightened short selling activity in the shares of major financial institutions.
Cox added that the Commission's decision to impose a three-week ban on short selling of financial company stocks was taken reluctantly, but that the view at the time, including from Treasury Secretary Henry M. Paulson and Federal Reserve chairman Ben Bernanke, was that "if we did not act and act at that instant, these financial institutions could fail as a result and there would be nothing left to save."
Cox stepped down as Chairman of the SEC at the end of the Bush administration, on January 20, 2009.
He joined the Boston-based international law firm of Bingham McCutchen LLP as a partner in the firm's Corporate, M&A and Securities practice"