Devoted to Corporate Attorneys, Corporate Lawyers, and Corporate Counsel

On April 25, 2006, Securities and Exchange Commission (SEC) Chairman Christopher Cox provided testimony on "Improving Financial Disclosure for Individual Investors" at a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

Cox said his priority was to improve the quality and usefulness of disclosures for "ordinary" investors, through the following four key initiatives:

1. Moving from boilerplate legalese to plain English in every document intended for retail consumption;
2. Moving from long, hard-to-read disclosure documents to easy-to-navigate Web pages that let investors click through to find what they want;
3. Reducing the complexity of accounting rules and regulations; and
4. Focusing our anti-fraud efforts on scams that target older Americans.