WASHINGTON (dpa-AFX) - Jay Clayton has resigned as chairman of the Securities and Exchange Commission on Wednesday.
Clayton previously had said that he would step down by the end of the year. He began his tenure in May 2017.
In a statement posted on the SEC's website, Clayton said that he recently submitted a letter to President Donald Trump informing him that December 23 would be his last day as Chairman of the SEC.
As per reports, Trump will likely appoint either Hester Peirce or Elad Roisman, SEC's Republican commissioners, as acting chairman. President-elect Joe Biden will pick a permanent successor to Clayton.
Further, the SEC announced that Sean Memon will conclude his tenure as the agency's Chief of Staff in January 2021. Memon served as principal advisor to Chairman Clayton on legal, policy and management matters affecting each aspect of the agency's mission.
In his letter, Clayton stated that Trump's administration facilitated remarkably productive engagement across the federal financial regulatory community amid the COVID-19 pandemic.
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