Exclusive: Jay Clayton is stepping down from the S.E.C. Jay Clayton, the former corporate deal lawyer who has led the Securities and Exchange Commission since 2017, is stepping down as chairman at the end of the year. Early on, Mr. Clayton said he saw no need for “wholesale changes to the commission’s fundamental regulatory approach.” Indeed, as at other agencies, some of the big initiatives at his S.E.C. Mr. Musk had to step down as chairman and pay a $20 million fine. After Geoffrey Berman was fired from the post, a political firestorm forced Mr. Clayton to back off.

Source: International New York Times November 16, 2020 12:00 UTC