President-elect Trump has nominated Wall Street lawyer Jay Clayton to head the Securities and Exchange Commission in his administration, transition officials announced Wednesday.
Clayton, a current partner at the international law firm Sullivan and Cromwell, is widely recognized as a top corporate lawyer in the United States and previously worked as an adjunct law professor at the University of Pennsylvania School of Law.
In a statement released Wednesday, Trump said the incoming SEC chairman will ensure Americans’ financial security is his top priority.
“Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time,” said Trump. “We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers.”
If confirmed by the Senate, Clayton said he will work with “key stakeholders in the financial system to make sure we provide investors and our companies with the confidence to invest together in America.” “We will carefully monitor our financial sector, as we set policy that encourages American companies to do what they do best: create jobs,” he added in a statement released by the Trump transition team.
