Jay Clayton sworn in as new Chairman of the Securities and Exchange Commission. Hear PwC’s Felix Perez discuss his background, what we know so far about his perspectives, and how those may impact the capital markets.
Hi, I’m Felix Perez, National Office SEC Services Partner.
On May 4th, Jay Clayton was sworn in as the Chairman of the Securities and Exchange Commission. Chairman Clayton spent the last 20 plus years as a Wall Street transactions lawyer at Sullivan & Cromwell where he worked on securities offerings, mergers and acquisitions, corporate governance, and regulatory and enforcement proceedings.
Politically, he is registered in New York as an Independent and was nominated by President Trump after Chair Mary Jo White left at the end of President Obama’s term.
Chairman Clayton joins Republican Mike Piwowar and Democrat Kara Stein on the 5 seat commission. President Trump has not yet nominated commissioners for the 2 open seats.
So you might wonder, what do we know about Chairman Clayton’s capital market beliefs?
Here is the insight that we have so far…
Given these beliefs, one focus of Chairman Clayton over the course of his term at the commission is expected to be capital formation. He has frequently cited the downward trend in US IPOs and number of publicly listed companies over the last 20 years as a basis for this focus.
If you have questions or need any further insight, please contact your local PwC professional.
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