Jay Clayton, the chairman of the U.S. Securities and Exchange Commission (SEC), is stepping down at the end of this year.
Clayton’s departure comes months ahead of his scheduled release in June 2021. Clayton was sworn in as the SEC chairman in May 2017 after being appointed by President Donald J. Trump. Now that Joe Biden has been elected as the new U.S. President, it remains to be seen who replaces Clayton.
“I would like to thank President Trump for the opportunity, and the support and freedom, to lead the women and men of the SEC,” said Clayton. “In addition, the cooperation and assistance of Secretary Mnuchin and his team at the Department of the Treasury, Chair Powell and Vice Chair Quarles and their colleagues at the Federal Reserve, Chairmen Giancarlo and Tarbert and the CFTC, Chairman McWilliams and the FDIC, and our other fellow federal financial regulatory agencies have been remarkable. … Through their continued service, I know the SEC is well-positioned for prolonged success.”
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