SEC Chair Clayton leaving post as top financial regulator

Associated Press: Jay Clayton, a former Wall Street lawyer who has headed the Securities and Exchange Commission as the financial markets’ top regulator during the Trump administration, is leaving the position at year’s end, the SEC announced Monday.

Clayton’s term runs through mid-2021. It is common practice for agency heads or Cabinet members appointed under an outgoing administration to leave early. A new SEC chair is expected to be named by President-elect Joe Biden.

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