President Donald Trump recently nominated the Virginia native to serve as U. S. attorney for the Southern District of New York.
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Jay Clayton, Chairman and the Securities and Exchange Commission testifies during a Senate Appropriations Subcommittee hearing on Capitol Hill May 8,2019 in Washington, DC.
Walter Joseph “Jay” Clayton III is the Chairman of the U. S. Securities and Exchange Commission. President Donald Trump recently nominated the Virginia native to serve as U. S. attorney for the Southern District of New York.
Attorney General William Barr announced in a press release Friday that the SEC chairman will accept the president’s nomination and start his new role on July 3.
The office is at the “forefront of many important areas of criminal law enforcement,” according to its website, including terrorism, white collar and cyber crime, mortgage fraud, organized crime and civil rights violations, among others areas.
“For the past three years, Jay has been an extraordinarily successful SEC Chairman, overseeing efforts to modernize regulation of the capital markets, protect Main Street investors, enhance American competitiveness, and address challenges ranging from cybersecurity issues to the COVID-19 pandemic,” Barr expressed in the statement.
Although the release claimed current SDNY U. S. Attorney Geoffrey Berman would be stepping down — he said otherwise in an updated statement.
Berman took to Twitter to explain that he had only heard news of his retirement through the press report.
“I have not resigned, and have no intention of resigning, my position, to which I was appointed by the Judges of the United States District Court for the Southern District of New York,” Berman wrote.
CNBC reported that Berman is currently investigating Trump’s personal lawyer, Rudy Giuliani, for financial dealings tied to Ukraine.
Barr’s statement did not clarify who will take over Clayton’s role as head of the SEC.
Here’s what you need to know about Jay Clayton:
GettySecurities and Exchange Chairman Jay Clayton awaits the start of a hearing on Capitol Hill September 2019 in Washington, DC.
According to SIFMA, Clayton is a member of the New York and Washington, D. C. bars and earned degrees in engineering, economics, and law.
He received a B. S. in Engineering from the University of Pennsylvania, a B. A. and M. A. in Economics from the University of Cambridge and a J. D. from the University of Pennsylvania Law School, the website adds.
