While President Bush's nominee to replace outgoing SEC Chairman William Donaldson is likely to bring a free-market, libertarian spirit to the post, don't expect him to charge in like a bull in a china shop.

The selection of Rep. Christopher Cox, (R-Calif.), a lawyer by trade and an outsider to the securities industry, signals a shifting of the sands at the agency in the aftermath of arguably the most prolific reform era in its history.

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