Featured Member of the Executive Branch for Prayer
Jay Clayton, Chairman, Securities and Exchange Commission
Walter J. “Jay” Clayton III received earned a Bachelor of Science in Engineering from the University of Pennsylvania. He received a B.A. and M.A. in economics from the University of Cambridge, England and his Juris Doctor from the University of Pennsylvania Law School. Following law school, he clerked at the U.S. District Court for the Eastern District of Pennsylvania.
Clayton worked at several prestigious and prominent Wall Street firms, including Goldman Sachs, specializing in mergers and acquisitions and capital markets offerings. He served as an adviser to numerous companies regarding issues related to the Federal Reserve, the Securities and Exchange Commission, Department of Justice, and other government agencies.
In January 2017, President Donald Trump nominated Clayton to be the Chairman of the Securities and Exchange Commission. He was confirmed by the Senate by a 61-37 vote and assumed the chairmanship on May 4, 2017.
Clayton is married to Gretchen.
IN THE NEWS
In his first major address since becoming chairman of the U.S. Securities and Exchange Commission (SEC), Jay Clayton laid out his regulatory philosophy for how he plans to run the agency and said the SEC staff is working to prepare proposals aimed at reforming the rules on disclosure imposed on public companies.
He broadly called for efforts to scale back unnecessary corporate disclosures, reduce compliance burdens on small and mid-sized companies, ramp up the enforcement division’s focus on protecting retail investors from run-of-the-mill frauds, and taking better care to retrospectively review SEC rules to ensure they are having the desired effect.
Such efforts would be in line with steps the SEC took in late June when it moved to allow all public companies to file paperwork confidentially for initial public offerings.