Clayton says he will exit SEC Dec. 23

Trump will likely name either Hester Peirce or Elad Roisman — the SEC’s Republican commissioners — as acting chairman

Securities and Exchange Commission Chairman Jay Clayton announced that Wednesday will be his last day leading Wall Street’s top regulator.

Clayton, in a statement posted on the agency’s website, said he submitted a letter to President Donald Trump informing him of his decision to leave the SEC on Dec. 23.

While President-elect Joe Biden will pick a permanent successor to Clayton, Trump will likely install either Hester Peirce or Elad Roisman — the SEC’s Republican commissioners — as acting chairman.

Clayton, a former law partner at Sullivan & Cromwell whose clients included prominent Wall Street firms, had previously announced that he planned to step down by the end of the year.

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