WASHINGTON—Jay Clayton, President Donald Trump’s choice to lead the Securities and Exchange Commission, told lawmakers on Thursday that scaling back regulations could prod more companies to go public while he expressed skepticism that large corporate penalties deter fraud. Mr. Clayton’s remarks at his confirmation hearing before the Senate Banking Committee about the dimming vibrancy of U.S. markets signal what could become the theme of his tenure at the SEC. The Trump administration and Republicans in Congress want to...

Source: Wall Street Journal March 23, 2017 14:58 UTC