Se­nate con­firms Wall St. at­tor­ney Clay­ton to head SEC

Cape Breton Post - - Business -

WASH­ING­TON — The Se­nate has con­firmed Jay Clay­ton, the Wall Street at­tor­ney cho­sen by Pres­i­dent Don­ald Trump to lead the Se­cu­ri­ties and Ex­change Com­mis­sion. The vote was 61-37 on Tues­day. Clay­ton will head the in­de­pen­dent agency that over­sees Wall Street and the fi­nan­cial mar­kets. Clay­ton, a part­ner in the promi­nent law firm Sul­li­van & Cromwell, has done sig­nif­i­cant le­gal work for Wall Street pow­er­house Gold­man Sachs and an ar­ray of other fi­nan­cial giants and cor­po­ra­tions.

As SEC chair­man, Clay­ton would be re­spon­si­ble for pro­tect­ing in­vestors from mis­con­duct on Wall Street. He would over­see the en­force­ment of rules writ­ten by the SEC un­der the law that re­shaped the reg­u­la­tion of banks and Wall Street af­ter the 2008 fi­nan­cial cri­sis and the Great Re­ces­sion.

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