Jay Clayton, Senior Policy Advisor and Of Counsel to Sullivan & Cromwell and former Chairman of the Securities and Exchange Commission, appeared on Cats Roundtable podcast with John Catsimatidis to discuss recent market fluctuations and SEC regulation.
Jay said that recent market volatility does not worry him and should be expected, as we are in uncertain times, but it’s important to keep an eye on liquidity in the market.
With regard to regulation, Jay said that the SEC has fairly comprehensive regulation for financial products and that he believes in developing clear regulation for blockchain technology. Overall, Jay said the SEC has dramatically expanded its regulatory purview into issues involving climate, politics and social policy and the scope of the agency’s authority likely will be scrutinized. Jay also noted that, given ongoing issues in energy, labor markets and supply chain deglobalization, it’s important for regulators to engage with the private sector to understand how those markets operate and how they interconnect with the financial markets.
Listen to the Cats Roundtable episode.