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Tuesday, April 04, 2017

Clayton Clears a Key Hurdle

News summary by MFWire's editors

This morning, the Senate Banking Committee approved President Donald Trump's nominee for Securities and Exchange Commission (SEC) head, Jay Clayton. After the 5-8 vote in the committee, the corporate M&A attorney just needs a majority vote in the full Senate to be confirmed as SEC chair.

Jay Clayton
SEC Chair Nominee
Committee chair Senator Mike Crapo (R-Idaho) expressed confidence in Clayton, pushing back against Clayton critics like Senator Elizabeth Warren (D-Massachusetts).

"While some have raised issues about his previous work creating conflicts, Mr. Clayton is not new in this regard, nor will he be any less vigilant to ensure that he acts appropriately and ethically," Crapo said before casting his vote.

If confirmed, Clayton will take the spot Mary Jo White filled in the previous administration. MFWire previously reported that White stepped down when Trump took office in January. SEC commissioner Mike Piwowar currently serves as the acting chairman.  

Edited by: Chelsea Tyson

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