SEC chairman Jay Clayton publishes resignation letter and will step down after today

Regulation • December 23, 2020, 3:55PM EST
Photo by Mark Wilson/Getty Images

Today is Jay Clayton's last day as Chairman of the Securities and Exchange Commission (SEC), according to a public statement. After announcing in November that he would depart at the end of the year, Clayton published his resignation letter to the president on the SEC's website today.

Clayton is vacating the position months ahead of the previously scheduled end to his tenure in June of next year. He took the office in May 2017 with an appointment from President Donald Trump. 

During his time as chairman, he led the SEC through the initial coin offering boom of 2017. "Under Chairman Clayton’s leadership the agency acted quickly and decisively to combat fraud and pave the way for innovation," the SEC said in a statement in November.

Clayton's SEC will also be remembered by the crypto industry for denying every application for crypto exchange-traded fund. His final outgoing action related to crypto was the recent suit against Ripple and two of its executives. 

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Aislinn Keely profile picture Aislinn Keely

Aislinn Keely is a reporter on The Block's policy team holding down the legal beat. She covers court decisions, bankruptcies, regulatory actions and other key moments in the legal sphere, putting them in context for the wider crypto industry. Before The Block, she lent her voice to the NPR affiliate WFUV and helmed Fordham University's student newspaper. Send tips or thoughts on all things policy and legal to [email protected] or follow her on Twitter for updates @AislinnKeely.

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