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Jay Clayton Intends to Bow Out as SEC Chairman at Yr Finish

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  CJay 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.”

 

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