Trump Pick for SEC: Wall Street Lawyer Jay Clayton

President-elect Donald Trump—who ran on promises to “drain the swamp”—announced Wednesday that he has selected Wall Street lawyer Jay Clayton to head up the Securities and Exchange Commission. “Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time,” Trump said in a statement. Clayton emphasized that he hopes to strengthen the desire to invest in the U.S., adding, “We will carefully monitor our financial sector, as we set policy that encourages American companies to do what they do best: Create jobs.”