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SEC’s Clayton Plans to Step Down as Chairman at Year’s End (1)

Nov. 16, 2020, 1:40 PM

Jay Clayton, who has led the U.S. Securities and Exchange Commission for most of President Donald Trump’s term in office, said in a statement Monday that he will step down at the end of the year.

Clayton, a 54-year-old former deals lawyer who left New York-based Sullivan & Cromwell to join Wall Street’s main regulator, avoided the scandals that embroiled other Trump appointees and the political turmoil that engulfed previous SEC chairmen.

A political neophyte not registered with either political party, Clayton mostly succeeded in casting himself as being focused on protecting small-time investors from fraud and financial...

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