SEC nominee reveals possible Wall Street conflicts

Markets Associated Press

The Wall Street attorney chosen by President Donald Trump to head the Securities and Exchange Commission has worked on many of the kinds of deals the agency regulates and represented some of the biggest financial firms.

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A financial disclosure report Jay Clayton filed with the government reveals clients — including Goldman Sachs — that pose potential conflicts of interest for the SEC job. He may have to recuse himself from some cases to come before the agency.

Trump nominated Clayton, a partner in the prominent law firm Sullivan & Cromwell, as chairman of the independent agency that oversees Wall Street and the financial markets. If confirmed by the Senate, his responsibilities will include enforcing SEC rules written under the 2010 law that reshaped financial regulation after the 2008-09 financial crisis.