President-elect Donald Trump announced Wednesday the nomination of Wall Street lawyer Jay Clayton as chairman of the Securities and Exchange Commission.
Mr. Trump touted the talent and expertise of Mr. Clayton, who has shepherded high-profile initial public offerings and also worked on major deals to save big banks during the 2008 financial crisis.
“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,” Mr. 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.”
Mr. Clayton pledged to be both a watchdog and a booster for the financial sector.
“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,” he said in a statement provided by the transition team.
• S.A. Miller can be reached at smiller@washingtontimes.com.
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