After the rumors came the confirmation. As stated in a note, the president-elect Donald Trump has chosen Jay Clayton, a Wall Street lawyer and partner of the Sullivan & Cromwell firm, as the next president of the Securities and Exchange Commission, the American Consob, in place of Mary Jo White, who he in turn had a past as a lawyer for the financial giants of Wall Street before arriving at the SEC.
Jay Clayton “is a very talented expert on many aspects of financial law and regulation. He will ensure that our financial institutions can thrive and create jobs while also complying with the rules,” Trump said, noting
that "we need to change the rules that have stifled investment in American companies and re-establish the supervision of the financial industry so that it does not harm American workers".
Clayton is expected to play an important role in job creation, favoring regulation that encourages investment and prioritizing reliability and financial security. The president-elect had also considered Debra Wong Yang, who had held a post in the administration of George W. Bush, but finally chose Clayton, who among other things, the listing of Alibaba Group on the American Stock Exchange in 2014.
