Jay Clayton, who has been the Securities and Exchange Commission's (SEC) chairman since May 2017, will step down from his role by the end of 2020. He prioritized initiatives aimed to promote economic growth, investor security, market integrity and investment opportunities during his tenure, the agency said Monday.
Clayton led SEC in efforts to help businesses grow capital across both private and public markets. The commission received monetary relief orders worth $14 billion and returned investor money amounting to $3.5 billion under his leadership.
The agency also credited him with implementing a practice meant to encourage the use of near-term agenda to guide the organization's regulatory activities for the next year.
“I am proud of our collective efforts to advance each part of the SEC’s tripartite mission, always with an eye on the interests of our Main Street investors," Clayton said.
He previously worked at Sullivan & Cromwell as a partner and helped spearhead the New York City-based law firm's corporate practice.
His career also includes time as an adjunct professor at the University of Pennsylvania Law School and a law clerk in the U.S. District Court for the Eastern District of Pennsylvania. Clayton is a bar member in Washington, D.C., and New York.
