With its army of lawyers and accountants, the US Securities and Exchange Commission is not renowned as one of the world’s major joke factories. But Christopher Cox, its chairman, seems determined to imbue it with an impish sense of humour.

The chairman of the US markets watchdog – a former congressman with a history of April Fool pranks – approved the issuing of a spoof press release supposedly announcing “plans” to require publicly-listed companies to reveal the pay and perks of the “top 100 people who make more than the CEO”.