• March 28, 2024

Trump Campaign Promises on Right Track – Meeting Shows Good Intent

According to the Trump Transition pool report, U.S. regulatory policy is scheduled on Trump’s to do list with a legal hawk.

An attorney at Sullivan and Cromwell, Jay Clayton, specializing in mergers and acquisitions, capital markets offerings and regulatory and enforcement proceedings, will meet with the president-elect on Thursday afternoon.

Clayton has made a career helping firms steer through the complexities of the U.S regulatory code. Chances are this is what the meeting is about.

The attorney has advised multinational corporations and respective boards in the course of his career. He deals with corporate investigations and regulatory matters involving the Federal Reserve Bank of New York, the Securities and Exchange Commission and the Department of Justice.

Trump has taken aim at multinationals such as Apple throughout his campaign. He claimed that when he took office, these firms would be forced to move back to the U.S.

Trump stated in December 2015, “China makes more money with Apple than we do, if you think about it. We have to bring Apple, and other companies like Apple, back to the United states. We have to do it.”

Trump could be trying to get some insights into the best way to bring American business back home by meeting with Clayton. The president-elect proposes a one-time tax for domestic businesses with trillions of dollars overseas, currently. This is to hopefully to help with incentivizing these companies to bring their foreign capital back to the United States.

Advising Wall Street financial institutions on everything from mortgage backed securities lawsuits to the ins and outs of regulatory review of hedge funds has been Clayton’s forte. The 2,300 page Dodd-frank Act, which has been something Trump has pledged to dismantle, directly affects financial institutions and hedge funds. Clayton’s experience may prove beneficial to Trump’s goal.

The president-elect also promises to deregulate the energy industry and to put a moratorium on any new regulations, when he takes office. A combination of a meeting with Clayton and Trump’s choice of Billionaire Carl Icahn as a special regulatory advisor to the president, certainly signals that he plans to make good on his promises on the campaign trail.

 

 

 

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