Donald Trump Slates Wall Street Lawyer to Chair SEC
US President Elect Donald Trump said Wednesday he intends to nominate Walter “Jay” Clayton, an experienced Wall Street lawyer, to lead the U.S. Securities and Exchange Commission.
“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,” Donald 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.”
Mr. Clayton is a partner in the New York office of law firm Sullivan & Cromwell who specializes in advising clients on public and private mergers and acquisitions and capital-raising efforts. He also helps companies navigate regulatory and enforcement actions, including a number of cases that involved mortgage securities according to the reports
Mr. Clayton has worked for high-profile clients, including the IPO (initial public offering) of Alibaba Group Holding Company (NYSE:BABA)
During the height of the Y 2008 financial crisis, Mr. Clayton also worked on major deals involving big banks, and the US Treasury Department’s capital investment in Goldman Sachs (NYSE:GS) according to his law firm’s website.
By selecting Walter Clayton, Donald Trump is likely signaling that the SEC will be looking to pare regulations that are see as burdensome and may be hindering capital and corporate growth.
Many Republicans in recent years have criticized the SEC for focusing too much on enforcement, and not enough on its other Key Mission: writing rules that help promote capital formation.
His appointment as SEC Chairman is a strong signal the economy is a top priority of President Elect Trump and his Team, and that the SEC will work together with Main Street to meet the country’s economic goals of full employment and healthy growth.
Trumpeting for Trump
Latest posts by Paul Ebeling (see all)
- Drinking Coffee and Tea Does Not Dehydrate the Human Body - April 22, 2018
- Lucara Diamond (OTCMKT:LUCRF) Unearthed a 472 carat Diamond - April 22, 2018
- The FBI Has Power, President Trump Has Power Plus - April 22, 2018