From SEC to SDNY: Jay Clayton Steps In as Acting US Attorney

He was sworn in on April 22, a week after President Donald Trump selected him for the position.

In a public statement, Clayton outlined his main goals: improving public safety, fighting fraud, especially against older people and those at risk, and protecting the financial system.

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Clayton is stepping into the role on a short-term basis. Due to a Senate rule, his appointment did not go through a full confirmation process. Senate Majority Leader Chuck Schumer did not return the required "blue slips" to advance the nomination. That means Clayton can serve for up to 120 days.

The SDNY is known for handling major financial crime and public corruption cases. It also oversees legal matters tied to Wall Street and large financial institutions. In this role, Clayton will be responsible for a wide range of investigations, including fraud, threats to national security, and crimes affecting vulnerable communities.

During his time at the SEC, Clayton dealt with the rise of digital assets and initial coin offerings (ICOs). Between 2017 and 2020, he oversaw 57 legal actions against crypto-related companies and helped stop 18 suspected frauds involving blockchain and digital tokens.

On April 21, Paul Atkins was sworn in as SEC Chair following a 52–44 confirmation vote in the Senate. What did he say about the appointment? Read the full story.