BREAKING: Trump Announces Another Cabinet Nomination [VIDEO]

BREAKING: Trump Announces Another Cabinet Nomination [VIDEO]

Jay Clayton is his name and he is an attorney who advises clients on major Wall Street deals. This is the man President-elect Trump announced today that he intends on nominating to lead the U.S. Securities and Exchange Commission.

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‘Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time,’ Trump said in a statement.

‘We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers.’

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Clayton is also a partner in the New York Office Law Firm, Sullivan and Cromwell. This law office specializes in advising clients on public and private mergers, acquisitions and capital-raising efforts.

That’s not all that he has going for him as far as skill sets either. He also assists companies in navigating their regulatory and enforcement actions, this includes a number of cases that involve mortgage securities.

On his list of clients, there are some pretty high-profile clients as well.

Word is by selecting an attorney such as Clayton who is deeply into capital-raising deals, what Trump is doing is signaling that the SEC will be seeking to scale back regulations that some critics of the process see as burdensome and may be hindering corporate growth altogether.

Several Republicans in the past few years have in fact criticized the SEC for focusing far too much on enforcement and not nearly as much on its other missions, which include writing rules that assist in promoting capital formation.

‘In light of Jay’s vast experience in capital formation, his appointment as SEC Chair is a strong positive signal the economy is a top priority of President-elect Trump and his team, and that the SEC will work together with Main Street to meet the country’s economic goals of full employment and healthy growth,’ said Jonathan Macey, a professor at the Yale Law School.

So what’s your take? Do you think Trump made the right choice?

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