Will Jay Clayton Protect Investors?


President-elect Donald Trump’s nominee to run the Securities and Exchange Commission, Walter J. Clayton, differs in an encouraging way from several of Mr. Trump’s other choices for top jobs in the executive branch. As a partner at Sullivan & Cromwell — the go-to law firm for Goldman Sachs and other Wall Street banks — Mr. Clayton, known as Jay, has undoubtedly mastered the nation’s securities laws and related regulations, and applied them in real-world circumstances. Presumably, he is also equipped with a mastery of the history and workings of the agency he has been named to lead. The same cannot be said of Mr. Trump’s nominees to head, say, the departments of labor and housing.

The unanswered question is whether Mr. Clayton would use his knowledge and experience to protect investors from abuse and undue risk in the public markets, or to shield Wall Street from scrutiny…

Will Jay Clayton Protect Investors?

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