SEC Chairman Jay Clayton to Step Down at Year End

U.S. Securities and Exchange Commission (SEC) announced on Monday that its Chairman Jay Clayton will conclude his tenure at the end of this year after serving for more than three and a half years. 

Chairman Clayton was sworn in on May 4, 2017, and will leave the SEC as one of its longest serving Chairs.  During his tenure, Chairman Clayton focused the agency's resources on advancing the interests of Main Street investors through initiatives that promoted economic growth, investment opportunity, market integrity and investor protection.  Under Chairman Clayton's leadership, the Commission enhanced the ability of businesses of all sizes to raise capital in US public and private markets, subject to strong and effective investor protections. 

The Commission also strengthened its examination and enforcement programs, setting various annual records.  During Chairman Clayton's tenure the Commission obtained orders for over $14 billion in monetary remedies, including a record $4.68 billion in fiscal year 2020, returned approximately $3.5 billion to harmed investors, conducted over 10,000 exams, including a record for the number of investment adviser exams in fiscal year 2018, and paid approximately $565 million to whistleblowers, including the largest single award in the program's history ($114 million).

"Working alongside the incredibly talented and driven women and men of the SEC has been the highlight of my career," said Chairman Clayton. "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. The U.S. capital markets ecosystem is the strongest and most nimble in the world, and thanks to the hard work of the diverse and inclusive SEC team, we have improved investor protections, promoted capital formation for small and larger businesses, and enabled our markets to function more transparently and efficiently."