Despite consternation from some quarters, Jay Clayton's experience representing Wall Street firms and other public companies is an asset not a liability for the Securities and Exchange Commission.
When President Donald Trump nominated the Sullivan & Cromwell partner in early January to lead the agency, the announcement invited some immediate criticism and dire predictions. The main complaint is that Clayton's background advising the likes of Goldman Sachs makes him an inappropriate candidate to police the securities markets. The Law360 blog posited that the choice signals an SEC that will be "enforcement light."
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Originally published by Reuters, 9 March 2017.
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