SEC's Clayton Leaves Behind Market-Friendly Legacy

Law360 (November 20, 2020, 6:35 PM EST) -- Outgoing U.S. Securities and Exchange Commission Chairman Jay Clayton built a record that focused on easing capital formation from day one, a priority welcomed by capital markets attorneys, albeit over objections from investor protection advocates.

The SEC is expected to embark in a new direction under Democratic leadership following the election of President-elect Joe Biden. The change in administration will likely end the deregulatory approach often taken under Clayton, who recently said he will step down at the end of the year.

When Clayton was nominated by President Donald Trump to lead the agency more than three years ago, he expressed...

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