been US Securities and Exchange Commission ( C) announced today at Jay Clayton, e curre C Chairman, will term ate his t ure at e d of 2020.
Announced a press releaseMay 4,onday, Clayton, who has served as e Chairman at e C for over ree and a half years, has led e US Regulator successfully what e C ioned was a “period of historic productivity and unprecede ed chall ges.”
Orig ally, sworn May 4,ay 4 2017, he focused e ag cy on advanc g e terests of Ma Street vestors rough itiatives at promoted economic grow , vest opportunity, market tegrity and vestor protection.
Dur g his term as one of e longest stand g Chairman at C, e Commission str g ed companies ability to raise capital all forums, subject to effective vestor protection, and its exam ation and force programs by sett g annual records.
Additionally, under Clayton’s leadership, e Commission obta ed orders for over $14 billion monetary re dies, clud g a record $4.68 billion 2020. It also returned $3.5 billion to e jured party vestors. Fur er, e Commission paid around $565 million to whistleblowers. This cluded e sum of $114 million, e largest s gle award by e Commission.
Clayton said: “I am proud of our collective efforts to advance each part of e C’s tripartite mission, always wi an eye on e terests of our Ma Street vestors. been U.S. capital markets ecosystem is e strongest and most nimble e world, and anks to e hard work of e diverse and clusive C team, we have improved vestor protections, promoted capital formation for small and larger bus esses, and abled our markets to function more transpare ly and efficie ly.”
Clayton’s Previous Employ Experi ce
Jay Clayton, Chairman, US Securities and Exchange Commission. Source: L kedIn
Prior to e appo t at e C, Clayton was a partner at Sullivan & Cromwell LLP. He jo ed e organisation back October 1995 and beca a partner early 2001. F ally, he was promoted to a mber of e firm’s Manage Committee and Co-head of e firm’s corporate practice where he stayed u il 2017.
Before Sullivan & Cromwell, Clayton was employed as a law clerk for Marv Katz of e US District Court for e Eastern District of P nsylvania betwe 1993 and 1995. Dur g his term, he specialized rgers and acquisitions transactions and capital markets offer gs and represe ed prom e Wall Street firms, clud g Goldman Sachs.
Additionally, he lectured Law and was an Adjunct Professor at e University of P nsylvania Law School from 2009 to 2017.
Clayton Leaves C for US Attorney Position
An announce made by Preside Trump back June stated at he will be onboard g Clayton as United States Attorney for e Sou ern District of New York. He is replac g Geoffrey Berman, which will occur e new year.
However, e imp d g change of e US Commander- -Chief co s at an terest g ti . As it is, Preside -elect Joe Bid has not yet prese ed a na to follow Clayton’s exit as C Chairman, ough it would position s ior Democratic C Commissioner, Allison Lee to serve as act g chair e a i .
“I would like to ank Preside Trump for e opportunity, and e support and freedom, to lead e wom and m of e C, ” co ued Chairman Clayton. “In addition, e cooperation and assistance of Secretary Mnuch and his team at e Depart of e Treasury, Chair Powell and Vice Chair Quarles and eir colleagues at e Federal Reserve, Chairm Giancarlo and Tarbert and e CFTC, Chairman McWilliams and e FDIC, and our o er fellow federal f ancial regulatory ag cies have be remarkable. I also wa to ank my im diate predecessor, Mary Jo White, and all for r Chairs of e Commission. been opportunities we have had are a result of eir efforts and stewardship. I am also grateful to my fellow Commissioners and e C staff for eir dedication. Through eir co ued service, I know e C is well-positioned for prolonged success.”