SEC Nominee Cox Discloses His Assets

Rep. Christopher Cox (R-Newport Beach), who has been nominated to become chairman of the Securities and Exchange Commission, Tuesday disclosed stock, mutual fund and other assets valued at about $2.7 million to $5.9 million.

The disclosure is required for Cox’s confirmation to the SEC. The report provides a range in value for each holding.

His top holdings are in two Smith Barney funds worth $500,001 to $1 million each -- a short-term cash fund and a stock fund that tracks the blue-chip Standard & Poor’s 500 index. He also holds T. Rowe Price Group Inc., Fidelity Investments, Janus Capital Group Inc. and Charles Schwab & Co. funds.

Cox has a penchant for gold stocks, according to his disclosure statement. He holds shares in Newmont Mining Corp. valued at $250,001 to $500,000 and shares in AngloGold Ashanti Ltd. valued at $100,001 to $250,000.

He also holds shares valued at $50,001 to $100,000 each in Barrick Gold Corp. and Gold Fields Ltd.

Among other holdings, Cox listed Coca-Cola Co. shares worth $250,001 to $500,000.

In addition, Cox reported that his family had a potential future interest in three mutual funds at Newport Beach-based Pimco Funds valued at $750,000 to $1.5 million.

According to the disclosure, Cox last year had investment income of $34,600 to $88,000. He listed no liabilities.

SEC commissioners are not allowed to participate in matters that could affect their personal finances, and they typically make adjustments, such as selling their stock, to prevent any conflicts.

Cox was not available to discuss how he would handle his assets if confirmed.

His confirmation hearing had yet to be scheduled Tuesday, although the Senate hopes to deal with the matter before the end of this month. Senate Democrats have urged the White House to nominate incumbent SEC Commissioner Roel C. Campos and SEC staffer Annette L. Nazareth to fill two other openings on the five-member panel.

If the Bush administration moves forward with those nominations, the entire package, including the Cox confirmation, could move rapidly.

Cox was one of 57 House members to receive an extension on the filing deadline for the routine financial disclosures, which were released last month.