Donald Trump formally nominated Jay Clayton to serve as chairman of the Securities and Exchange Commission on Wednesday.
Clayton, a partner with the international law firm Sullivan & Cromwell LLP, “will play an important role in unleashing the job-creating power of our economy by encouraging investment in American companies while providing strong oversight of Wall Street and related industries,” Trump’s transition team said in a statement.
Donald Trump (Getty Images)Donald Trump (Getty Images)
The president-elect further praised Clayton for his expertise “on many aspects of financial and regulatory law.”
“He will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time,” Trump added. “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.”
Donald Trump (Getty Images)
Clayton also addressed his nomination in a Wednesday statement.
“I want to thank President-elect Trump for the opportunity to serve as SEC Chairman,” he wrote. “If confirmed, we are going to work together with key stakeholders in the financial system to make sure we provide investors and our companies with the confidence to invest together in America.”
“We will carefully monitor our financial sector, as we set policy that encourages American companies to do what they do best: create jobs.”