Wall Street attorney Jay Clayton was officially sworn in as chairman of the U.S. Securities and Exchange Commission by U.S. Supreme Court Justice Anthony Kennedy on Thursday, the agency announced.
As head of the SEC, which polices U.S. financial markets, Clayton is expected to focus on ways to reduce regulatory burdens to help pave the way for more initial public offerings.
With Clayton's arrival, it will make it easier for the SEC to get more rule-writing done now that it has three members, instead of two. President Donald Trump has yet to nominate the other two commissioners to help round out the five-member panel.
(Reporting by Sarah N. Lynch)