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SEC Chair Jay Clayton to Step Down Amid Stock Market Record High

Jay Clayton, Chairman of the Securities and Exchange Commission (SEC), announced on Monday that he is going to step down at the end of this year, at a time when the Dow Jones Industrial Average climbed to a record high of nearly 30,000 after Moderna said that its vaccine efficacy has reached 94.5 percent. Sworn in on May 4, 2017, Clayton will leave the Securities and Exchange Commission as one of its longest-serving chairs. The Dow Jones Industrial Average rose from around 21,000 when Clayton took the office to nearly 30,000 in February this year. Hit by COVID-19, caused by CCP (Chinese Communist Party) virus, the Dow Jones Industrial Average went to a free fall to under 20,000 points. Since Clayton took office, the SEC has brought over 2,550 enforcement actions, obtained over $14 billion in financial remedies, and paid awards of approximately $565 million to whistleblowers. On Oct. 22, …