Skip to main content

You are here

Advertisement

New SEC Chairman Sworn In

Jay Clayton was sworn into office last week by U.S. Supreme Court Justice Anthony M. Kennedy as the 32nd Chairman of the Securities and Exchange Commission.

Clayton was nominated to chair the SEC on Jan. 20, 2017, by President Trump and confirmed by the U.S. Senate on May 2, 2017.

Previously, Clayton was a partner at Sullivan & Cromwell LLP, where for more than 20 years he advised public and private companies on a wide range of matters, including securities offerings, mergers and acquisitions, corporate governance, and regulatory and enforcement proceedings. His experience includes counseling companies in various industries and advising market participants on capital raising and trading matters in the United States and abroad, including while resident in Europe for five years.

Prior to joining Sullivan & Cromwell, Clayton served as a law clerk for the Honorable Marvin Katz of the U.S. District Court for the Eastern District of Pennsylvania. A member of the New York and Washington, D.C. bars, he has studied and received degrees in engineering, economics and law.

He earned a B.S. in engineering from the University of Pennsylvania, where he was the recipient of the Thouron Award for post-graduate study in the United Kingdom, enabling him to earn a B.A. and M.A. in eeconomics from the University of Cambridge. Mr. Clayton received a J.D. from the University of Pennsylvania Law School.

He has authored a number of publications on securities law, cybersecurity and other regulatory issues. From 2009 to 2017, he was an Adjunct Professor at the University of Pennsylvania Law School, teaching "M&A Through the Business Cycle" each spring semester as well as guest lecturing in other classes and at other institutions.

That won’t be the last SEC post Trump will need to fill; there are currently two vacancies on the five-member commission, a Republican and a Democrat. The SEC currently has only two commissioners,  Republican Michael Piwowar and Democrat Kara Stein.

Advertisement