SEC chairman nominee appears to be a gold bug

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WASHINGTON — Rep. Chris Cox, R-Calif., nominated to become chairman of the Securities and Exchange Commission, Tuesday disclosed stock, mutual fund and other assets valued at between about $2.7 million to about $5.85 million.

The disclosure is required for Cox's confirmation to the SEC. The report provides a range in value for each holding, making it impossible to determine a precise value for each asset.

His top holdings are in two Smith Barney funds valued at between $500,001 and $1 million each — a short-term cash fund and a stock fund that tracks the Standard & Poor's 500 index of blue-chip stocks. He also holds T. Rowe Price, Fidelity, Janus and Charles Schwab mutual funds.

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

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

Among other holdings, Cox listed Coca-Cola Co. shares valued between $250,001 and $500,000.

In addition, Cox reported that his family had a potential future interest in three Pimco funds valued in a range of $750,000 to $1.5 million.

According to the disclosure, Cox last year had investment income in the range 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 is not yet scheduled, although the Senate hoped to deal with the matter before the end of this month.

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

 

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