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SEC’s ‘Revolving Door’ With Industry Helps Agency, Clayton Says (1)

Nov. 19, 2020, 7:08 PMUpdated: Nov. 19, 2020, 9:50 PM

SEC Chairman Jay Clayton defended lawyers and other people who cycle between jobs at the agency and the securities industry, saying they’re “incredibly qualified, dedicated individuals.”

Criticism of the “revolving door” of employees in and out of the Securities and Exchange Commission is “devoid of any practical evidence of negative effects,” Clayton said during an Economic Club of New York webinar Thursday.

Clayton’s remarks followed his announcement earlier this week that he will leave the agency at year’s end. He hasn’t announced his post-agency plans, but he was a partner at Sullivan & Cromwell LLP in New York before he ...

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