SEC Chair Jay Clayton to Leave Agency by Year's End

SEC Chair Jay Clayton announced that he will be stepping down at the end of 2020. Mr. Clayton was sworn in on May 4, 2017.

In the announcement, the SEC highlighted that Mr. Clayton led the agency through multiple market challenges, notably the COVID-19 pandemic, the proliferation of initial coin offerings in 2017 and the transition away from LIBOR. The SEC also noted several accomplishments during his tenure. Among them:

• the finalization of more than 65 rules, including Regulation Best Interest;

• 2,750 enforcement actions;

• $14 billion in financial remedies;

• $3.5 billion to harmed investors; and

• $565 million to whistleblowers, including the largest single award ($114 million) in the program's history.