Bloomberg Law
March 22, 2017, 7:17 PM UTC

Two Insiders on SEC’s Possible Future Under Clayton

Gabe Friedman
Freelancer

Sullivan & Cromwell’s Walter “Jay” Clayton is set on Thursday to testify in front of the Senate’s Banking Committee for a hearing on his nomination to chair the Securities and Exchange Commission.

Clayton’s ties to Wall Street — his law firm has represented numerous banks during the bailout era, and his wife works at Goldman Sachs — and his past critique of the SEC’s enforcement approach have generated controversy with left-leaning groups such as the Center for American Progress, Public Citizen and others.

Most notably, in 2011, Clayton was listed first among a dozen drafters and editors of an article that criticized ...

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