Trump’s Pick for SEC Chairman Clears Ethics Hurdle
On Friday, the federal agency charged with reviewing U.S. officials’ conflicts of interest (U.S. Office of Government Ethics) cleared financial disclosures filed by Jay Clayton. President Trump announced Clayton as his nominee to chair the SEC on Jan. 4.
The next step for Clayton is for the Senate Banking Committee to schedule a nomination hearing. Clayton is currently a partner at the law firm Sullivan & Cromwell LLP where he counsels public and private companies on stock offerings, mergers and acquisitions, and cybersecurity risk.
Mr. Clayton’s disclosures will be posted on the Office of Government Ethics’ website after they are shared with members of the banking panel. At the current pace, Clayton’s nomination hearing could be scheduled for later in March.
Clayton’s financial paperwork will reveal the extent of his personal wealth, including any stock in Goldman Sachs Group Inc., where his wife works as a financial adviser to wealthy households and high-net-worth individuals.
Gretchen Butler Clayton has worked at Goldman Sachs since February 2000. She plans to resign if the Senate confirms her husband, according to The Wall Street Journal.