Jay Clayton says he will step down early as head of the SEC at the end of 2020

first_imgJay Clayton, who has led the Securities and Exchange Commission for the past 3½ years that included a number of major changes in financial markets, said Monday he will step down at the end of the year.“Working alongside the incredibly talented and driven women and men of the SEC has been the highlight of my career,” Clayton said in a statement. His term would have expired in June 2021.- Advertisement – SEC chairs traditionally step down when an administration ends, and Clayton’s resignation comes two months before Joe Biden will take over as president. Potential successors at the agency include former Manhattan U.S. Attorney Preet Bharara.Clayton has said he wants to return to New York. Senior Democratic SEC Commissioner Allison Lee likely will be named to serve as acting chair, Reuters reported.President Donald Trump named Clayton to head the SEC and has since said he intended to nominate him to serve as U.S. attorney in Manhattan. Political fallout after Clayton was blamed for helping oust Geoffrey Berman from the job scuttled the move.- Advertisement – – Advertisement – Though some critics said Clayton was too easy on corporate America, his tenure featured a high level of enforcement actions. Perhaps his biggest target was Tesla founder Elon Musk, who was forced to step down as chairman and pay a $20 million fine as a result of tweets he sent regarding the company. His tenure as chairman ends following a period in which the SEC extracted some $14 billion in various fines and agreements with violators of regulatory standards. That included $4.68 billion in fiscal 2020, a record.With markets getting increasingly complex and automated, the SEC has been looked to stand as a referee and prevent some of the glitches that became commonplace earlier in the decade.“The U.S. capital markets ecosystem is the strongest and most nimble in the world, and thanks to the hard work of the diverse and inclusive SEC team, we have improved investor protections, promoted capital formation for small and larger businesses, and enabled our markets to function more transparently and efficiently,” Clayton said.- Advertisement –last_img read more

Marsha Lee Acra, 69

first_imgMarsha Lee Acra, 69, of Milan passed away Wednesday morning, November 8, 2017 at the University Hospital in Cincinnati. She was born at Milan on April 9, 1948 the daughter of Walter and Thelma Taylor Knowlton. Survivors include her mother Thelma Knowlton of Milan; two sons Douglas (Summer) Acra, and Jon Acra and his fiancé Audra Kistler all of Milan; three grandchildren Holden, Madysen, and Kaylee Acra; one brother Bruce (Darlene) Knowlton of Milan; one sister Malena (Jim) Lovins of Milan. She was preceded in death by her father and her granddaughter Micayla Acra. Mrs. Acra was a 1966 graduate of Versailles High School. She received her Associate’s Degree in nursing from Vincennes University and then her BS in nursing from Indiana Wesleyan University. She retired in 2013 after 37 years as a registered nurse and supervisor with the Dearborn County Hospital in Lawrenceburg. Marsha was a member of the Milan United Methodist Church. Funeral services will be held on Saturday, November 11th at 10:30am at the Stratton-Karsteter Funeral Home in Versailles. Burial will be in the Craven Cemetery at Milan. Visitation will be on Friday from 5pm to 8pm. Memorials may be given to the Micayla Acra Scholarship Fund in care of the funeral home.last_img read more

Sarkisian versus Petersen

first_imgClash of the coaches · Steve Sarkisian (above) and Chris Petersen are each in their second year of coaching at their new respective universities. – Mariya Dondonyan | Daily TrojanIt was not too long ago that I thought Chris Petersen might become the next head coach of USC football. Two seasons ago, when former head coach Lane Kiffin was fired after the implosion at Arizona State and Ed Orgeron’s title as interim head coach had an emphasis on the “interim,” Athletic Director Pat Haden launched a national search for someone to become the full-time head. Petersen, then the head coach at mid-major Boise State, frequently came up whenever name-brand programs were in search of someone to reestablish that brand. Of course, the Trojans’ search ended with Steve Sarkisian, then the Washington head coach, and Petersen filled the void for Sarkisian at Washington.When Petersen and Sarkisian step into the Coliseum together on Thursday night, the sports world will get to see an interesting case study on executive leadership. The head coaches have a lot in common, so they make good partners for comparison about the future of our respective football programs. Along with their similarities are some significant and noteworthy differences.Should the Trojans have hired Petersen over Sarkisian? Probably not, and I say that mostly because I have faith in the Athletic Department’s judgment. Additionally, the two have only completed one season at their second major head coaching destination, so time will tell if there’s any significant, long-term impact the respective coaches have on their programs. But it’s always fun to speculate, and there’s enough history these two have had in the game to have a legitimate argument about it.When looking at the two’s resumes before the 2013 season, one is clearly more impressive in my book: Petersen.Petersen took a                 middle-of-nowhere school into the national spotlight. The Broncos had consistently won the Western Athletic Conference before he took over in 2006, but no one could have predicted the success he would have during his eight-season tenure in Boise.The team had two undefeated seasons, three undefeated regular seasons, three BCS bowl wins and a four-year stretch between 2008-2011 of going 50-3, the most ever wins in that span by an NCAA football team. That the College Football Playoff didn’t come into existence until after Petersen’s tenure is a national sports travesty. While the Broncos’ in-conference schedule never compared to the Power Five teams playing for the national championship, Boise State consistently had big wins early in its season over big, non-conference opponents like Virginia Tech and Oregon.Sarkisian’s head coaching tenure was much less remarkable before coming to USC. He made a Washington program that was the absolute bottom feeder of the Pac-12 decent, but he earned the nickname “Seven-win Sark” for never taking Washington to the next level during his five-year stint. When Sarkisian was hired as the head coach at ’SC, many — including myself — wondered if his hire had more to do with his success as a Pete Carroll disciple than as a head coach himself.So what’s happened to the two since their new gigs? Again, it’s still early to make this judgment, but the Trojans have gotten noticeably better under Sarkisian, and the Huskies have actually performed worse so far. The Huskies went from 9-4 with a bowl win in Sarkisian’s last season — technically Sarkisian had left for USC before the bowl win, but we’ll still give him some credit — to 8-6, with a bowl game loss last year. They’ve already lost both of their real tests this year in Cal and Boise State, and the road doesn’t get any easier as they move into the meat of their conference slate. They also have not generated any headlines over their recruiting class.It’s not hard to imagine USC winning the Pac-12 South this year and going on a streak of a couple years of playing for the conference title and a de facto national playoff. There might be some long term concerns regarding the future of Oregon, and there could be a vacuum in North division for a consistent, national champion contender along with Stanford, but Petersen has yet to show any evidence of moving Washington into the direction of where his Broncos once were.Thursday’s game still isn’t a gimme for the Trojans, but it’s probably the second easiest test besides Colorado left on the schedule of a team with arguably the nation’s toughest schedule. My instinct doesn’t say “trap game.” I still think the Trojans can afford to lose one more conference game and still win the South based off of how crazy it has been so far, but there would be some real concern from me if the Trojans dropped tomorrow’s game.But if the Trojans do take care of business, fans should be sure to appreciate it as more than just that. It’s a reminder of how hard it is to build a program in the Pac-12. Washington had a run of success in the ’90s, including a pair of Rose Bowls and national championships, but really hasn’t amounted to anything this decade. That Sarkisian kept that team bowl-eligible for most of his tenure, but that Petersen, the guy who made blue turf look legit for a couple of seasons, can’t, should reassure our faith in our program going forward. Given the tradition and recruiting hot spot to build upon, the possibilities are endless for a Sarkisian-led program.last_img read more