Senate to Vote on Clayton to SEC, House to Advance Dodd-Frank Overhaul

Stay up-to-date with the latest developments in securities law through access to both news and all statutes and regulations. Find relevant corporate filings through a searchable EDGAR database. And...

By Rob Tricchinelli

The Senate is likely to vote next week on the nomination of Jay Clayton to lead the SEC as the House Financial Services Committee marks up a GOP blueprint to overhaul the Dodd-Frank Act.

The upper chamber will have a procedural vote to end floor debate on Clayton’s nomination May 1, Senate leadership said April 28, paving the way for a confirmation vote as soon as the following day.

Clayton is a partner at Sullivan & Cromwell LLP in New York. The Senate Banking Committee approved his nomination 15-8 earlier in April, with all but three Democrats opposed. Clayton is expected to be confirmed with the backing of all Republican senators and some Democrats.

Also on May 2, the House committee will tackle the Financial Choice Act (H.R. 10), a sprawling bill to unwind many parts of Dodd-Frank.

SEC, CFTC

Several SEC officials will talk at the Colorado Bar Association’s Rocky Mountain Securities Conference May 5. Speakers include Office of Compliance Inspections and Examinations acting director Peter Driscoll, Enforcement Division chief counsel Joseph Brenner, asset management unit co-chief C. Dabney O’Riordan, market abuse unit co-chief Robert Cohen and Denver Regional Office director Julie Lutz.

Jina Choi, director of the SEC’s San Francisco Regional Office, will take part in the American Bar Association’s Section Annual Conference in San Francisco May 4. She will participate in panels on internal company investigations and the constitutionality of enforcement actions before the agency’s administrative law judges.

Commodity Futures Trading Commission staff will speak on several panels at the Futures Industry Association’s Law and Compliance conference in Washington beginning May 3.

Acting Chairman J. Christopher Giancarlo’s chief of staff, Michael Gill, will sit on a panel that day about potential regulatory and legislative changes that would affect futures trading. On May 4, the heads of numerous CFTC divisions and offices, as well as general counsel Daniel Davis, will discuss current topics affecting their units.

Later that day, the head of the Division of Market Oversight will speak about issues related to non-financial users of derivatives, the head of Swap Dealer and Intermediary Oversight will discuss protecting the assets of futures brokers and the chief counsel in the Division of Clearing and Risk will address bankruptcy procedures for futures brokers.

To contact the reporter on this story: Rob Tricchinelli in Washington at rtricchinelli@bna.com

To contact the editor responsible for this story: Phyllis Diamond at pdiamond@bna.com

Copyright © 2017 The Bureau of National Affairs, Inc. All Rights Reserved.

Request Securities & Capital Markets on Bloomberg Law