UPDATED: Acting comptroller, FDIC chairman, laud outgoing SEC chairman following resignation

The acting top regulator of national banks Tuesday was joined by the chairman of the board for the insurer of bank deposits in marking the resignation of the chairman of the Securities and Exchange Commission (SEC) with congratulatory notes.

In separate statements, Acting Comptroller of the Currency Brian P. Brooks and Federal Deposit Insurance Corp. (FDIC) Chairman Jelena McWilliams thanked SEC Chairman Jay Clayton – who announced Monday he was stepping down from his position after serving three years of a five-year term – for his leadership at the organization.

Calling the SEC leader representative of the “best among federal government executives,” Brooks added that “he consistently provided a sage voice during interagency discourse and created a strong foundation at the SEC to ensure that markets will meet our country’s evolving economic needs for decades to come.”

McWilliams was likewise complimentary, asserting that his “deep understanding of financial markets and dedication to public service have been evident in every single interaction we have had over the past few years.”

Clayton had indicated a desire to leave the agency earlier in 2020 but expressed interest to Attorney General William Barr in becoming U.S. Attorney for the Southern District of New York. However, following the furor over Barr’s firing of then-U.S. Attorney Geoffrey Berman to clear the way for Clayton, Clayton dropped out of consideration for the appointment.

Acting Comptroller of the Currency Congratulates SEC Chairman on his Tenure