Trump nominates Jay Clayton chairman of the SEC

WASHINGTON, Jan 4 (Reuters) - President-elect Donald Trump said on Wednesday he intends to nominate Jay Clayton, a partner with law firm Sullivan & Cromwell LLP, as chairman of the Securities and Exchange Commission.

"Jay Clayton is a highly talented expert on many aspects of financial and regulatory law, and he will ensure our financial institutions can thrive and create jobs while playing by the rules at the same time," Trump said in a statement. "We need to undo many regulations which have stifled investment in American businesses, and restore oversight of the financial industry in a way that does not harm American workers."

Related: Trump's official picks for cabinet and cabinet-level positions

(Reporting by Doina Chiacu; Editing by Chizu Nomiyama)