washington selection deal-making attorney walter jay clayton head u.s. securities exchange commission president-elect donald trump signal agency try reduce regulations critics see burdensome hind corporate growth trump announce wednesday intend nominate clayton partner new york office law firm sullivan cromwell lead agency police regulate wall street clayton specialize public private mergers acquisitions capital-raising efforts notably work initial public offer alibaba group hold company baba.n also help company navigate regulatory enforcement action include number case involve mortgage securities least two clients clayton represent alibaba ally financial disclose recent years investigate sec clear whether either review conclude jay clayton highly talented expert many aspects financial regulatory law ensure financial institutions thrive create job play rule time trump say statement clayton immediately respond request comment statement release trump transition team pledge ensure investors company confidence invest america many republicans recent years criticize sec focus much enforcement especially outgo chair mary jo white former federal prosecutor enough missions include write rule promote capital formation legal experts say clayton background line past sec chiefs point less regulation perhaps shift away white policy agency fin firm small violations effort deter big ones day-to-day corporate transactional lawyer know regulations like say walter van dorn partner bakerhostetler former sec official often case sec chair nominees clayton close personal professional tie wall street height 2008 financial crisis clayton work major deal involve big bank include barclays capital barc.l acquisition lehman brothers assets sale bear stearns jp morgan chase jpm.n u.s. treasury department capital investment goldman sachs gs.n accord law firm website help draft comment letter sec advocate less onerous restrictions foreign public company also participate 2011 article advocate less zealous enforcement foreign corrupt practice act clayton background represent goldman wall street firm likely come senate confirmation hear wife gretchen butler clayton employ goldman sachs private wealth advisor democrats include massachusetts senator elizabeth warren previously critical potential sec nominee include within political party strong tie wall street hard see attorney spend career help wall street beat rap keep president-elect trump promise stop big bank hedge fund get away murder say u.s. senate bank committee rank member sherrod brown like white also former wall street lawyer clayton likely need recuse matter divest certain stock hold federal ethics rule recuse one year vote particular matter firm individual represent sullivan cromwell prior clients represent sullivan cromwell sec case include ubs ubsg.s fifth third bank fitb.o also recuse year work matter involve clients represent past year recuse indefinitely deal previously work come sec litigation length time could long trump opt continue president barack obama current policy extend recusal period additional year trump still need fill two sec vacancies round five-member panel without full panel possible recusals could certain case lead deadlocked vote enforcement matter perhaps tricky conflict navigate involve wife employment goldman sachs say richard painter law professor university minnesota serve chief ethics lawyer white house president george w. bush chairman securities exchange commission spouse financial interest goldman sachs say manage conflict say would need divest stock stock options company negotiate flat salary could immediately determine whether gretchen butler clayton goldman stock immediately respond email seek comment breakingviews tv insider sec reut.rs/2hqq8ud sec subpoena ally financial subprime auto lend 2014 trump 's sec pick clayton point capital formation enforcement