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Senate Banking Committee schedules Clayton hearing

Joe Mont | March 8, 2017

We may be getting closer to having a new chairman of the Securities and Exchange Commission.

President Donald J. Trump’s pick to fill that post, Jay Clayton, will testify before the Senate Banking Committee on March 23. The hearing, announced on Tuesday, is a prelude to confirmation by the full Senate.

Clayton, currently a partner with the law firm Sullivan & Cromwell, would replace former Chairman Mary Jo White.

“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,” a statement from the Trump Administration said, when announcing the selection in January. “We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial...

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