Trump nominates Jay Clayton to head powerful prosecutorial office

SEC chief accepts post as US Attorney for Southern District of New York

Move prompts questions about Clayton's political motivations and potential conflicts of interest

President Donald Trump has tapped Jay Clayton, the current chairman of the Securities and Exchange Commission, to lead the US Attorney's Office for the Southern District of New York, a powerful prosecutorial office that has taken on major financial crimes and terrorism cases.

Clayton, a former Wall Street lawyer, has been a controversial figure during his time at the SEC, with critics accusing him of being too lenient on corporate wrongdoers. His nomination to the US Attorney's office has raised concerns about potential conflicts of interest, given his close ties to the financial industry.

The US Attorney's Office for the Southern District of New York is one of the most prestigious and powerful prosecutorial offices in the country. It has a long history of taking on major financial crimes cases, including the prosecution of insider trading and securities fraud. The office has also been involved in high-profile terrorism cases, such as the prosecution of the September 11 attackers.