Mary Schapiro

Trump wants Wall Street lawyer Jay Clayton to head SEC

Trump wants Wall Street lawyer Jay Clayton to head SEC

President-elect Donald Trump intends to nominate Wall Street attorney Jay Clayton to head the Securities and Exchange Commission, transition spokesman Sean Spicer said Wednesday.

Clayton, a partner with New York-based global law firm Sullivan & Cromwell, would succeed Mary Jo White, who announced in November that she would step down at the end of the Obama administration.

“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," Trump said in a written statement.

"We need to undo many...

63°