Prosecutor propels low-profile markets regulator
The currently unveiled decision by the US Department of Justice to replace a leading federal prosecutor has impel one of the president Donald Trump’s administration low-profile officials into the key spotlight, shocking people who know and have operated with him. Over the past few days, the US SEC (Securities and Exchange Commission) chairman Jay Clayton has come under the massive pressure to hamper his nomination to replace American Attorney in Manhattan Geoffrey Berman, who was fired by the US president after decline to resign in a statement.
That declaration left the nomination of Mr. Clayton for the new role in major doubt. But the reports have stunned present and former officials of the US SEC as well as lawyers who have operated with Clayton, a late corporate attorney and political independent who until now has navigating well of partisan controversy. It also raises some questions about the futuristic leadership of the US SEC, which could drop to ranking Republican commissioner Hester Peirce, who moderately votes against penalizing firms for wrongdoing.
The securities law professor at George Mason University, J.W. Verret said that I am familiar with the work of Clayton on the Investor Advisory Committee of the US SEC. He described Mr. Clayton as mild-mannered and stated that he has played the proper performance at SEC.