After criticism that regulators over-corrected after the age of Enron, some observers say they see the Securities Exchange Commission slowly slipping away from its fervently investor-oriented positions toward a more business-friendly orientation, according to the International Herald Tribune.

Investor advocated have criticized Cox for not pushing further for tighter regulation of hedge funds and for appearing at the U.S. Chamber of Commerce later this month, coinciding with the business group’s report criticizing the President Bush and SEC Chairman Christopher Cox for being too tough on corporations.  Cox said his appearance should not be interpreted as an endorsement of the Chamber’s position.

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