Cox gets nod from Senate panel

A Senate committee on Thursday recommended that Rep. Christopher Cox

(R-Newport Beach) be confirmed as chairman of the Securities and

Exchange Commission, moving him closer to confirmation. The final

step is a full Senate vote, which could happen today.

Cox, 52, has represented the 48th Congressional District since

1988. Earlier rumors of an appeals court judgeship, a Senate run and

other important posts for Cox never panned out, but on June 2,

President Bush nominated him to replace outgoing SEC Chairman William

Donaldson.

A Tuesday hearing with the Senate Committee on Banking, Housing

and Urban Affairs ran smoothly, leading to Thursday’s unanimous vote

by the 20-member committee to recommend Cox for Senate confirmation

along with Annette Nazareth and Roel Campos, two Democratic nominees

for SEC seats.

Banking committee Chairman Sen. Richard Shelby would like the full

Senate to vote before its monthlong August recess, which is set to

begin this weekend, said Shelby spokeswoman Virginia Davis.

Cox has not said how soon after his confirmation he will resign

his House seat.

Once he resigns California Gov. Arnold Schwarzenegger has 14 days

to call a special election to fill the seat. The election must be

held between 112 and 119 days later.

State Sen. John Campbell and former Assemblywoman Marilyn Brewer

already are stumping to replace Cox, and other possible contenders

include Newport Beach physician Don Udall, a Republican; and Newport

Beach lawyer Steve Young and UC Irvine business professor John

Graham, both Democrats.

* ALICIA ROBINSON covers government and politics. She may be

reached at (714) 966-4626 or alicia.robinson@

latimes.com.