The U.S. Securities and Exchange Commission’s new chief, Christopher Cox, took the oath of office today, becoming the 28th chairman of the SEC.

Cox, who was sworn in by U.S. Federal Reserve Board chairman Alan Greenspan, said, “It is an honor to lead the Securities and Exchange Commission, and to be sworn in by so wise and able a champion of America’s capital markets.”

He will officially begin his duties tomorrow, leading off with a mid-morning address to the SEC staff in the commission’s auditorium.

The industry lobby group, the Securities Industry Association, quickly congratulated Cox. “The SEC has a knowledgeable and qualified chairman in Christopher Cox,” said SIA chairman Danny Ludeman, president and chief executive officer, Wachovia Securities. “He has a unique opportunity to solidify the SEC’s position as a preeminent regulator. We look forward to working with him and the other commissioners.”

“Chairman Cox’s professional background and tenure in Congress have demonstrated a broad understanding of the securities industry and its importance to the economy,” said SIA president Marc Lackritz. “We encourage him to lead the agency to consider less costly regulation, more balanced supervision, and uniform national and international standards.”

Cox was nominated by U.S. president George W. Bush on June 2, and unanimously confirmed by the Senate on July 29. For the past 10 years, he has served in the elected majority Leadership of the House of Representatives. Most recently, he was Chairman of the House Committee on Homeland Security.

Greenspan and Cox first met nearly 20 years ago when then-president Ronald Reagan formed the so-called ‘Brady Commission” to investigate the causes of the 1987 stock market crash. Prior to his election to Congress in 1988, Cox served as a White House counsel to President Reagan; as a securities partner in the law firm of Latham & Watkins; as a member of the faculty of Harvard Business School; and as the co-founder of Context Corporation, publisher of the English translation of the Soviet Union’s daily newspaper, Pravda.