SEC's Cox: little risk from Bear Stearns funds

WASHINGTON, June 26 (Reuters) - U.S. Securities and Exchange Commission Chairman Christopher Cox said on Tuesday he sees little systemic risk from the liquidity problems of two hedge funds managed by Bear Stearns Cos. Inc. BSC.N.

"We see little systemic risk arising from liquidity issues there," Cox told a House Financial Services Committee hearing in response to a lawmaker's question.

"We are regularly in contact with officials at these (investment) firms and they provide us with real-time reports of not only what's going on, but particularly emerging financial weaknesses if there are any," Cox said.