WASHINGTON — The government's top securities regulator says accounting rules shouldn't be bent inappropriately as an allowance in a financial crisis.

Securities and Exchange Commission Chairman Christopher Cox says accounting rules must be neutral and "not just another financial rudder to be pulled" in times of economic difficulty.

The banking industry has pressed the SEC to suspend so-called "mark-to-market" rules. They require banks to put the assets on their balance sheets at current market prices even if they plan to hold them for years.

Cox's remarks today signal that the agency is unlikely to suspend the rules, but he says refinements appear to be in order. A study by the SEC has found that most investors agree the rules provide a meaningful way to measure assets.