SEC Candidate Named
The US President-elect has announced his pick to head the US Securities and Exchange Commission. Jay Clayton is currently a partner with Sullivan & Cromwell LLP, a well known Wall Street law firm, and has significant experience in mergers and acquisitions transactions, capital markets offerings, and regulatory and enforcement proceedings. Industry observers indicate that this background may indicate a shift towards emphasising capital formation over enforcement.
The SEC of course has an extensive structured data program and we will both watch for signs of where the Commission may be headed in its thinking, and continue to work closely with XBRL US in supporting the Commission with its efforts to provide analysts and investors with high quality financial data. Read the press release announcing Clayton’s appointment here.