SEC Chief Urged to Drop U.S. Attorney Bid Amid Political Battle

U.S. Securities and Exchange Commission Chairman Jay Clayton was surprised and dismayed by the political battle that quickly erupted over his pending nomination to be the top federal prosecutor in New York, said people familiar with the matter.

Now, as it becomes clear that he may face insurmountable hurdles to winning Senate confirmation for the U.S. attorney post, some of Clayton’s close advisers are urging him to withdraw from consideration and announce that he’s staying at the helm of Wall Street’s regulator. Clayton hasn’t yet made a decision, the people said.

via SEC Chief Urged to Drop U.S. Attorney Bid Amid Political Battle.