U.S. Representative Christopher Cox, nominated to succeed William Donaldson as chairman of the Securities and Exchange Commission, said he would pursue "vigorous enforcement" of securities laws, Bloomberg reports.

Speaking before the Senate Banking Committee on Tuesday, Cox told lawmakers that the SEC must protect the U.S. financial industry through its rulemaking and enforcement policies, the report said. He also assured that the financial markets would continue to operate efficiently in the event of another terrorist attack.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.