Jay Clayton, President-elect Donald Trump’s nominee to lead the U.S. Securities and Exchange Commission, is hardly a high-profile figure outside the Wall Street deal-making circles in which he’s made his career. Unlike outgoing SEC Chairwoman Mary Jo White, Clayton, a partner at Sullivan & Cromwell, is not a litigator or a member of the white-collar defense bar.
But in the hours after Trump announced his choice on Wednesday, securities litigators and other lawyers who have worked with Clayton greeted his nomination with enthusiasm, saying it could usher in a new era for the agency.
