Jay Clayton Resigns as Chairman of the US SEC

After announcing in November that he would resign at the end of 2020, Jay Clayton has published his resignation letter to President Donald Trump, on the SEC's website.

December 24, 2020 | AtoZ Markets – On Wednesday, December 23, the chairman of the US Securities and Exchange Commission (SEC) Jay Clayton retired after more than three years in the department. This is stated in a statement on the website.

Clayton took the office of the head of the department on May 4, 2017. During his tenure, the SEC has secured more than $14 billion in fines and refunds orders and returned $3.5 billion to investors.

The regulator also paid informants $565 million, including a record reward in the history of the program - $114 million. For the 2020 financial year, $4.68 billion was collected, of which $1.26 billion fell on the Telegram ICO and token sales of cryptocurrency companies.

Under Clayton's leadership, Bitcoin and Ethereum-based regulated futures have been launched, but applications to launch exchange-traded funds (ETFs) based on the first cryptocurrency have not been approved.

Clayton confirmed in November that he would retire by the end of the year.

Recall that on December 23, the SEC filed a lawsuit against Ripple, Brad Garlinghouse, and Chris Larsen. According to the department, the company sold unregistered securities in the form of tokens.

Read also: SEC Imposes $2 Million Fine on Unregistered ShipChain ICO

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