Jay Clayton Biography
Jay Clayton is an American media personality and he served as the Chairman of the U.S. Securities and Exchange Commission from May 2017 to December 2020. He is a Senior Policy Advisor and Of Counsel at Sullivan & Cromwell LLP, and Non-Executive Chairman of Apollo Global Management.
Jay Clayton Age
Walter Joseph Clayton III was born on 11th July, 1966, Newport News, Virginia, U.S.
Jay Clayton Height
He stand at a height of 5 feet and 7 inches tall.
Jay Clayton Education
Mr. Clayton earned a BS in engineering from the University of Pennsylvania (summa cum laude), a BA and MA in Economics from The University of Cambridge (Kings College; Thouron Scholar) and a JD from The University of Pennsylvania Carey Law School (cum laude; Order of the coif).
Jay Clayton Nationality
Jay is an American nationality.
Jay Clayton Ethnicity
Jay is of white ethnicity.
Jay Clayton Parents
Clayton has not disclosed any information regarding his parents, he was born at Fort Eustis in Newport News, Virginia. He grew up near Hershey, Pennsylvania, where his father worked for the local chocolate company, and Wallingford, Pennsylvania.
Jay Clayton Siblings
He has brother by the name Jim Clayton.
Jay Clayton Wife
Jay is married to his wife Gretchen Butler Clayton, She worked as a wealth Manager at Goldman Sachs. whom he started dating while they attended the same Pennsylvania high school, worked at Goldman Sachs. At one point a small amount of her retirement assets (less than $1,001) was invested in an account managed by Omega Advisors Clayton’s wife resigned from her job prior to his confirmation.
Jay Clayton Children
Jay and his wife Gretchen Butler Clayton have three children together.
Jay Clayton CNBC
Jay Clayton was nominated to chair the U.S. Securities and Exchange Commission on January 20, 2017, by President Donald J. Trump and was sworn in as Chairman on May 4, 2017. In addition to chairing the SEC, he was a member of the President’s Working Group on Financial Markets, the Financial Stability Oversight Council, and the Financial Stability Board. Chairman Clayton also participated on the Board of the International Organization of Securities Commissions.
Clayton was a member of the Ocean City Beach Patrol and Penn Law rugby team, an intern with the U.S. Attorney’s Office in Philadelphia and U.S. Representative Curt Weldon, and an employee of United Engineers and Constructors.
He is in the financial services and other sectors as well as an Adjunct Professor Wharton School and Carey Law School at the University of Pennsylvania and has advisory roles with several privately held companies and non-profit organizations.
As Chairman of the SEC, Mr. Clayton focused on modernizing the regulation and oversight of our equity and fixed income markets, concentrating on the interests of long-term investors. Under his leadership, the SEC updated dozens of rules and regulations, many that had not been revised in decades.
Mr. Clayton’s team pursued an effective, investor-oriented enforcement program that obtained the highest and second highest (FY 2020, FY 2019) financial remedies and, importantly, returned $3.5 billion to harmed investors.
The SEC also addressed various market developments and emerging risks, including the digitization of assets and financial transactions, the COVID-19 economic shock, the Brexit and LIBOR transitions, and various cybersecurity matters.
Clayton was criticized for his role in the removal of Geoffrey Berman at a U.S. House hearing. Clayton said it was entirely his idea to become the U.S. Attorney for SDNY. He said he wanted the position because he had a “strong desire to continue in public service”, and return to his New York-based family.
He was an active member of the Financial Stability Board, the International Organization of Securities Commissions, the Financial Stability Oversight Council and the President’s Working Group on Financial Markets.
Prior to Mr. Clayton’s time at the SEC, he was a member of Sullivan & Cromwell’s management committee, co-managing partner of its General Practice Group and co-head of its Cybersecurity Group.
He was a lead lawyer in an array of complex M&A and capital markets transactions, as well as regulatory and governance matters, in the financial, telecoms, energy, transportation and ecommerce sectors. Mr. Clayton also advised a number of individuals and families in connection with their public and private investments and succession planning matters.
The Commission Under Chairman Clayton
There were several areas of focus for the SEC under Chairman Clayton:
1. Furthering the interests of America’s Main Street investors by:
2. Updating and enhancing the standards of conduct governing broker-dealers and investment advisers when providing advice to retail customers;
3. Modernizing disclosure rules and processes, both for companies and investment funds, to more effectively deliver material information to investors;
4. Maintaining an Enforcement program which is focused on cases impacting retail investors and market integrity and has brought more than 2,300 enforcement actions, often in close coordination with criminal authorities, resulting in more than $10 billion in fines and disgorgement and over $3 billion returned to harmed investors;
5. Establishing the Retail Strategy Task Force within the Enforcement Division, which develops proactive, targeted initiatives to identify misconduct impacting Main Street investors with primary goals of deterring misconduct and returning funds to harmed investors;
6. Launching investor-specific initiatives to protect and inform our most vulnerable investors, including teachers and military service members;
7. Increasing public engagement around the country through round tables and town halls with Main Street investors; and
Educating investors on the importance of saving and investing wisely, and creating a new online search tool for retail investors to research their financial professionals.
Under Chairman Clayton, the SEC addressed unprecedented market developments, including:
Securities law issues related to distributed ledger technology, cryptocurrencies and initial coin offerings;
Responding to COVID-19’s impact on investors, equity and fixed income markets, and market participants while maintaining operations in a fully remote working environment, including by providing immediate, targeted relief and guidance as necessary or appropriate to preserve market function and market integrity;
Assessing and planning for the potential adverse effects on U.S. capital markets from Brexit and the transition away from LIBOR; and
Cybersecurity and the reliance of companies and our financial system on information technology, and the resulting vulnerabilities to cyberattacks and cyber outages as well as the need for operational resiliency and interagency cooperation.
Under Chairman Clayton’s leadership, the SEC reaffirmed its commitment to promoting diversity, inclusion, and opportunity both within the agency and in the industries and markets it oversees. This emphasis led to the issuance of the SEC’s first Diversity and Inclusion Strategic Plan.
Chairman Clayton led the SEC Diversity Council and served as senior sponsor for three SEC employee affinity groups supporting African American, Hispanic and Latino and veteran colleagues.
His efforts to leverage human capital more effectively also led to establishing a mentoring program, enhancing hiring processes and expanding training to combat unconscious bias.
Externally, he encouraged targeted sessions on diversity by the SEC’s Asset Management Advisory and Small Business Capital Formation Advisory Committees so the Commission could receive independent advice on issues such as racial disparities in employment and assets under management in the asset management industry.
Jay Clayton Salary
Jay earns an estimated annual salary of USD 100, 000.
Jay Clayton Net Worth
His net worth is estimated to be USD 5 million.
Jay Clayton Instagram
Jay Clayton (@jaysamclayton)
Jay Clayton Twitter
Jay does not hold a Twitter account.
