U.S. Securities and Exchange Commission Chairman Jay Clayton is stepping down from his position at the end of this year, he announced Monday.
“Working alongside the incredibly talented and driven women and men of the SEC has been the highlight of my career,” Clayton said in a statement.
His term was set to expire in June.
“The U.S. capital markets ecosystem is the strongest and most nimble in the world, and thanks to the hard work of the diverse and inclusive SEC team, we have improved investor protections, promoted capital formation for small and larger businesses, and enabled our markets to function more transparently and efficiently,” Clayton said in the statement.
Names being floated to replace Clayton reportedly include Gary Gensler and Preet Bharara, The New York Times reported.