All articles tagged with #jay clayton
Manhattan federal court judges approved Jay Clayton's appointment as U.S. Attorney for the Southern District of New York, allowing him to serve until a Senate-confirmed successor is appointed, potentially for the remainder of Trump's presidency, amid political and legal controversies.
Former President Donald Trump is reportedly interested in appointing Jay Clayton, the former chairman of the Securities and Exchange Commission (SEC), as the top federal prosecutor in Manhattan. This move comes as Trump seeks to influence key legal positions and potentially impact ongoing investigations.
Donald Trump has nominated Jay Clayton, former SEC chair, as the US attorney for the Southern District of New York, a key position overseeing Wall Street. This nomination is part of a series of legal appointments by Trump, including Todd Blanche and Emil Bove for top Justice Department roles, and John Sauer as solicitor-general. Clayton, known for his focus on retail investor protection and deregulation at the SEC, would succeed Damian Williams, under whose leadership the office secured high-profile convictions. The Southern District has a history of acting independently from Washington.
President-elect Donald Trump has nominated Jay Clayton, former SEC Chair, to be the US Attorney for Manhattan, a role known for handling high-profile financial fraud cases. This marks a shift to criminal law for Clayton, who has been involved with Apollo Global Management and Sullivan & Cromwell since leaving the SEC. Trump's administration has emphasized a focus on immigration and violent crimes, and Clayton's appointment aligns with these priorities. The Manhattan office, known for its independence, has recently prosecuted significant cases like those involving FTX and Archegos Capital Management.
President-elect Trump has announced his intention to nominate Jay Clayton, former SEC chair, as U.S. Attorney for the Southern District of New York, a key prosecutorial office known for handling financial fraud cases. Despite lacking prosecutorial experience, Clayton is expected to be a strong advocate for Trump's agenda. Previously, Trump attempted to appoint Clayton to this role in 2020 but faced opposition. Clayton's past includes a tenure at Sullivan & Cromwell and a board position at Apollo Global Management.
Former SEC Chairman Jay Clayton believes that a spot Bitcoin exchange-traded fund (ETF) could be approved if it demonstrates similar efficacy to the futures market. Clayton, who was initially skeptical of Bitcoin trading, finds it remarkable that major players in traditional finance are interested in spot ETF applications. BlackRock, the world's largest asset manager, recently applied for a spot Bitcoin ETF, leading to increased institutional investment in the space. The SEC has been hesitant to approve a spot Bitcoin ETF due to concerns about price manipulation and the need for a surveillance-sharing agreement. However, if applicants can address these concerns, it would be difficult for regulators to resist approving a Bitcoin ETF.
Former SEC Chair Jay Clayton and former CFTC Chair Timothy Massad have expressed their disagreement with the SEC's current approach of using litigation to regulate the cryptocurrency industry. They argue that lawsuits are unlikely to address the need for adjustments to existing laws and that judges should not be tasked with addressing technical questions of market structure in the context of token classification. Clayton and Massad suggest that regulatory agencies should work together to develop basic investor and market protection standards, and they also believe that Congress mandating an approach would be preferable. They emphasize that better regulation should not be dependent on partisan lines or the ongoing debate about the utility of cryptocurrencies.