WASHINGTON (Legal Newsline) — The Securities and Exchange Commission (SEC) announced May 4 that Jay Clayton has been sworn into office as the 32nd chairman of the SEC by U.S. Supreme Court Justice Anthony M. Kennedy.
"It is a tremendous honor to lead the SEC and to be sworn in by Justice Kennedy, whom I greatly admire," Clayton said. "The work of the SEC is fundamental to growing the economy, creating jobs, and providing investors and entrepreneurs with a share of the American dream. I would like to thank acting chairman Michael Piwowar for his leadership, and I look forward to working with my fellow commissioners and the talented SEC staff to ensure that our markets remain the safest and most vibrant markets in the world."
Clayton was confirmed by the Senate on May 2 after having been nominated to lead the agency by President Trump on Jan. 20. Clayton comes to the SEC from Sullivan & Cromwell LLP, where he was a partner and for 20 years advised public and private companies on a wide range of matters, including securities offerings, mergers and acquisitions, corporate governance, and regulatory and enforcement proceedings.