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Trump nominates Jay Clayton as new chairman of SEC

President-elect Donald Trump has announced the nomination of Jay Clayton as the new chairman of the USA Securities and Exchange Commission (SEC). Pending the USA Senate confirmation, Clayton will take over Mary Jo White.

Clayton has had a long career advising on public and private M&A transactions, capital markets offerings, regulatory and enforcement proceedings. He has been an adjunct professor at the University Of Pennsylvania School Of Law. Clayton is currently a partner with Sullivan & Cromwell LLP.

“[Clayton] will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time,” Trump said. “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.”

Clayton thanked Trump for the nomination and added: “If confirmed, we are going to work together 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.”

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