Wall St. attorney Clayton gets Senate panel OK as SEC head

April 4, 2017

WASHINGTON (AP) — A Senate panel has cleared the nomination of Jay Clayton, the Wall Street attorney chosen by President Donald Trump to lead the Securities and Exchange Commission.

The vote was 15-8 Tuesday by the Senate Banking Committee, as three Democrats joined the panel’s Republicans in approving Clayton. The confirmation of Clayton to head the independent agency that oversees Wall Street and the financial markets now goes to the full Senate, where approval is expected.

Sen. Mike Crapo, R-Idaho, the committee’s chairman, said Clayton’s “extensive expertise and experience in our financial markets will be a benefit to the (SEC) and the American people.”

At his hearing before the panel last month, Clayton pressed to assure the lawmakers that he’ll show no favoritism, as his Wall Street connections came under scrutiny.

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