Many Republicans in recent years have criticized the SEC for focusing too much on enforcement, especially under outgoing chair Mary Jo White, a former federal prosecutor, and not enough on its other missions, including writing rules that promote capital formation.
Legal experts said Clayton’s background is more in line with some past SEC chiefs, and points to less regulation and perhaps a shift away from White’s policy in which the agency fined firms for smaller violations in an effort to deter bigger ones.
via Choice of Clayton for SEC Chief Suggests Looming Priority Shift | FINalternatives.
