SEC nominee flip-flops on Dodd-Frank rollback
Rules mandated by statute must be adopted by regulators, Clayton concedes
The Trump administration’s nominee to lead the US Securities and Exchange Commission (SEC) sent out mixed signals on the future of capital markets regulation at his Senate confirmation hearing on March 23 – first saying he had “no specific plans” to repeal elements of the Dodd-Frank Act before pledging to reduce the complexity of regulations in general and finally conceding that regulators should “go forward” with outstanding rules mandated by the 2010 statute.
Jay Clayton, a partner at the law
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