Former SEC Chairman Jay Clayton has become an advisor to One River Digital Asset Management.
The announcement came directly from the company. Jay Clayton completed his term at the helm of the Securities and Exchange Commission in late 2020. He will now join Kevin Hassett and Jon Orszag on One River’s Academic and Regulatory Advisory Council.
One River Digital Asset Management is one of the most prominent firms in the digital asset landscape, which is part of One River Asset Management. Founded in 2013, it currently holds $2.5 billion in institutional assets.
To grow further, it wanted to include in its Academic and Regulatory Advisory Council the former head of the SEC, who also has 20 years of experience as a lawyer. Joining him will be Kevin Hassett who was also an advisor to former President Donald Trump and campaign advisor to US presidential candidate Mitt Romney. He also boasts prestigious roles at the FED and Columbia University.
Finally, Jon Orszag has a long track record in the economic and financial sector where he has also dabbled in antitrust and regulatory issues. He has also served as Secretary of Commerce and is currently a member of Compass Lexecon.
Jay Clayton from the SEC to One River
With these appointments, it is likely that One River wants to be at the forefront of digital asset regulation.
Eric Peters, Chief Executive Officer, Chief Investment Officer and founder of One River Asset Management said:
“We are excited to have brought together such a distinguished group with deep and varying regulatory and policy experience and will continue to broaden the council to include thought leaders with diverse backgrounds and expertise”.
Digitization within compliance. This will be the task of the three new advisors, who stated:
“We were impressed by Eric’s willingness to hear our varying views on the digitization of our monetary, banking and capital markets ecosystem and One River’s commitment to transparency. We look forward to working with One River as the effects of digitization on our markets play out across the globe”.
With their input, One River Digital Asset Management will work to ensure that the United States remains a global leader in financial innovation. One River’s CEO concluded in this regard:
“It is crucial to understand how digital assets will interact with existing laws and regulatory bodies, while engaging with governments in an open and transparent manner. The One River Academic and Regulatory Advisory Council will help us consider how these new digital systems and the investment opportunities they present will best fit within existing policy, while also helping us think through how to advance these frameworks in ways that ensure the US continues to lead the world in financial innovation and asset management”.