washington jay clayton wall street attorney tap president donald trump lead u.s. securities exchange commission thursday defend democrats charge multiple conflict interest would force miss many sec vote clayton partner elite law firm sullivan cromwell expect win confirmation easily although democrats senate bank committee raise concern tie wall street goldman sachs bank represent financial crisis employ wife gretchen wife plan resign bank clayton confirm say recuse matter involve firm clients two years clients include barclays deutsche bank bill ackman hedge fund pershing square capital management former ocwen financial corp executive chairman william erbey clayton tell panel wall street legal experience strength add think conflict interest would present problems lead agency enforce securities laws regulate u.s. stock options bond market far extent practice whether recusals would require potential conflict impair ability act chair securities exchange commission believe say clayton political independent tell committee dodd-frank financial reform law look determine achieve goals press certain part law whether sec delay implement rule require company disclose ratio ceo pay median pay workers clayton decline wade debate could get information sec staff question republicans lead panel chairman mike crapo idaho say sec help make easy company raise money goal trump administration embrace clayton say sec regulations clear lean say complexity create confusion company take long go public compliance cost deterrent say offer policy solutions problem throughout hear democrats include sherrod brown ohio elizabeth warren massachusetts repeatedly say clayton wall street relationships worry today confirmation hear jay clayton matter conflict interest skunk party say lisa gilbert vice president legislative affairs public citizen criticize clayton wall street tie clayton potential recusals could significant commission currently two sit members democrat kara stein republican michael piwowar clayton recuse remain two disagree measure commission would fail stress see major concern enforcement vote unanimous clayton also say strongly believe hold individuals accountable wrongdoing add could great deterrent come corporations sec civil jurisdiction bring criminal prosecutions democrats also question clayton will stand trump appointees warren point billionaire investor carl icahn advise trump regulation ask clayton icahn use high-profile role boost investments icahn control stake refinery could benefit change propose u.s. biofuels program 24.57 percent stake herbalife ltd investigation violations foreign corrupt practice act clayton acknowledge meet icahn nominate discuss role activist investors careful judge icahn roles investor white house adviser violations insider trade laws generally entail facts circumstances analysis say current former sec staff tell reuters confident clayton make strong sec chairman former republican sec commissioner daniel gallagher know clayton since financial crisis attend hear thursday give high mark demeanor perfectly fit sec chairman say senate panel press sec nominee clayton conflict