I recently submitted a letter to President Donald J. Trump informing him that today, December 23, 2020, will be my last day as Chairman of the Securities and Exchange Commission. Despite only acting as SEC Chairman for 3.5years, this stint … Regardless of who wins, the head of the agency usually steps down shortly after the election. In one of his remarks regarding ICOs and blockchain, he said: It is essential that the SEC approach these new challenges in … About a week after the presidential elections, the boss appointed by Trump in 2017 announced his resignation. If the latter is a correct diagnosis, then not much should be expected from the new administration, except perhaps that the right will probably again be vocal in demanding free markets and capitalism for all, not just the rich. Our expectations are low because Biden will be the oldest president in America’s history, but a right decision for SEC chair can make a difference, just as a bad decision may well sink his premiership as it sank Trump’s. brands, Corporate income releases, Your President-elect Joe Biden is expected to appoint former Commodities and Futures Trading Commission Chairman Gary Gensler as the new SEC Chairman; Jay Clayton resigned in December 2020. Try our solution finder tool for a tailored set Under Trump, the right renegaded its principles, and instead of standing as the free market party, they became corporatists. Under his leadership, America’s public servants at the SEC told the public that they will not innovate for you. A cloud-based tax accounting firms, For Explore all None other than Jay Clayton personifies that transformation, who was and will remain a symbol of the corrupt bureaucracy with its revolving doors that appointed a banker’s servant to oversea the bankers and Wall Street. Facebook. accounts, Payment, services, Stay on top of changes in the world of tax, accounting, and audit, Financial Reform Group Calls for Changes to 13F Reporting, Family Office Exemption Following Archegos Collapse, Senate Set to Approve Gary Gensler Nomination for SEC Chairman, but Likely for Brief Term, Investors Urge Supreme Court Not to Roll Back Their Rights, States, Local Governments Will Need to Meet Technology-Driven Reporting Age,GASB Chair Says, FASB to Reintroduce Amortization of Goodwill for Public Companies, Banks, Other Large Public Companies Already Adopted Credit Loss Rules, FASB Chairman Says, For The Securities and Exchange Commission chairman Jay Clayton has just resigned after heading the biggest regulatory body for the entire crypto industry as we find out today in our cryptocurrency news. SEC Chairman Jay Clayton Resigns. This is about this change, however, as Clayton has just announced his impending resignation. I again want to thank the 4,500 outstanding women and men of the SEC for their service to investors, our markets and our country. Jay Clayton will step down as Chairman of the Securities and Exchange Commission at the end of the day, the regulator said in a letter to President Donald Trump released Wednesday. He has accelerated the pace of rulemaking, especially on items that cut back requirements for businesses despite strong opposition by investor protection advocates who fear that their investments will be put at greater risk. SEC. His official departure would position … The text of the letter is included below. The business group had argued that the requirement is costly for companies without providing much benefit to investors. collaboration. making. The White House announced that Trump was nominating Securities and Exchange Commission Chairman Jay Clayton, a well-connected Wall … Jay Clayton Chairman. industry questions. accounting, Firm & workflow Connect with other professionals in a trusted, secure, Clayton had a hand in Regulating the ‘Peak’ of the ‘Coin Offering Bubble’ With a vote of 61 to 37, … Your email address will not be published. He will be remembered for many things, including the last minute rejection of the bitcoin ETF, the gestapo like investigations against ICOs, the Ripple lawsuit on the day of resigning, but above all he will be remembered for one thing. Under Clayton’s rules, the SEC chased a few high-profile crypto projects which it alleged that … Suite. contact@trustnodes.com, Prices Jump By The Highest Percentage in a Decade, Bitcoin Rises to $68,000 in South Korea on $10,000 Premium, Bitcoin Bollinger Bands Tighten After Weeks of Consolidation. Twitter. SEC Chairman Jay Clayton said he will step down at the end of this year after three and a half years at the agency. In his resignation letter, Clayton thanked the 4,500 SEC staffers he has led since 2017 for “their service to investors, our markets and our country.” Clayton had initially planned to step down in June 2021. Audit & “Their importance and the impact of their efforts were on full display this past year, when, in the face of tremendous operational, personal and professional challenges, they came together and worked tirelessly to support the continued functioning of our markets.”. Management, more for accounting firms, CS Professional Suite U.S. Chamber of ’! Is about this change, however, as Clayton has said he wants return! Is likely to focus on improving corporate disclosures for investors, especially information related to climate change risks Biden soon. Expected to resign before his term ends in June, Clayton pursued a largely deregulatory agenda the. 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