Christopher Cox, a former chairman of the Securities and Exchange Commission, told attendees of the 12th annual Securities and Exchange Commission Conference that the agency still has convergence of International Financial Reporting Standards in its sights, but that implementation will "take hard work and determined leadership." The convergence efforts were put on hold after the financial crisis. Cox said the agency is working on a smaller-scale cross-border regulatory infrastructure. Attendees at the conference said they are hoping for full convergence but are skeptical of its adoption anytime soon.

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