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Confirmation hearing for Jay Clayton further demonstration that he is the wrong man to lead the SEC

Washington DC– Today the Senate Banking Committee held a confirmation hearing for Jay Clayton, Trump’s nominee for Chairman of the Securities and Exchange Commission. The Senate Banking Committee will vote on his nomination before the vote heads to the full Senate floor.

Jon Green, the Take On Wall Street campaign manager, issued the following statement:

“Putting Jay Clayton in charge of the SEC is like putting The Joker in charge of the Gotham City Police Department. During today’s hearing in the Banking Committee, Clayton was dismissive of Senators’ concerns about changes needed to ensure corporate accountability, refused to commit to enforcing the law on CEO pay disclosure, and demonstrated antipathy to regulations in general. Clayton not only underplayed the impact that the many recusals he may need to make would have on the Commission’s ability to avoid deadlocks, he also refused to commit to not routing back through the revolving door and returning to corporate law after his term.

His performance in the hearing makes it abundantly clear that after a career of helping Wall Street banks avoid accountability, he is uniquely ill-suited to the job of protecting investors and working people from Wall Street misconduct.”