Ethics office clears Trump's pick for SEC: report

Ethics office clears Trump's pick for SEC: report
© Getty Images

The Office of Government Ethics (OGE) on Friday cleared President TrumpDonald John TrumpFederal prosecutor speaks out, says Barr 'has brought shame' on Justice Dept. Former Pence aide: White House staffers discussed Trump refusing to leave office Progressive group buys domain name of Trump's No. 1 Supreme Court pick MORE’s pick to head the Securities and Exchange Commission, Reuters reported.

The move paves the way to a Senate confirmation hearing for the nominee Jay Clayton, a Wall Street lawyer who worked on corporate mergers and acquisitions.

The government’s ethics watchdog reviewed Clayton’s financial disclosures for potential conflicts of interest. The White House will review the paperwork before its sent to the Senate to schedule a hearing before the Banking Committee.

Clayton’s clearance by OGE is a victory for the president. Nominees for several posts in his administration have been stalled or withdrawn because of concerns over business ties and conflicts.

The SEC currently only has two members — three short of its intended five. Under the present arrangement, if the two members cannot agree on a measure, it automatically fails.