This video from the USA says about itself:
5 January 2017
President-elect Donald Trump plans to nominate Wall Street lawyer Jay Clayton to be chairman of the Securities and Exchange Commission, his staff announced Wednesday. If confirmed, Clayton would be in charge of overseeing the $27 trillion U.S. equity market, making him arguably the most powerful financial regulator in the world.
Read more here.
By Eric Ortiz in the USA:
Apr 17, 2017
So much for policing Wall Street. During the 2016 presidential campaign, Donald Trump criticized Hillary Clinton’s ties to Wall Street and said he would not “let Wall Street get away with murder.” But since winning the election, Trump has proved to be what some investors are calling the “best thing to happen to big banks.”
Trump named Wall Street lawyer Jay Clayton to lead the Securities and Exchange Commission, and Clayton is expected to be confirmed by the Senate as early as next week. In early April, the Senate Banking Committee approved Clayton 15-8 to advance his nomination.
Clayton is a longtime partner at the law firm Sullivan and Cromwell and has represented big banks (Goldman Sachs, Barclays, Deutsche Bank) and corporations (UBS, Volkswagen). As the SEC chief, he could face possible conflicts of interest overseeing the independent agency that regulates Wall Street and financial markets.
Sen. Elizabeth Warren, D-Mass., pointed out the potential conflicts and raised concerns about Clayton’s nomination during his Senate hearing in March.