SEC Has a New Chairman

Justice Anthony Kennedy swore in Jay Clayton as the new Chairman of the Securities and Exchange Commission on May 4, 2017.  According to the SEC's press release, Mr. Clayton was a partner at Sullivan & Cromwell LLP, where for over 20 years he advised public and private companies on a wide range of matters, including securities offerings, mergers and acquisitions, corporate governance, and regulatory and enforcement proceedings. His experience includes counseling companies in various industries and advising market participants on capital raising and trading matters in the United States and abroad, including while resident in Europe for five years.