The nominee to chair the SEC is pledging to take a "zero-tolerance" stand against bad actors in the financial services sector, though at Jay Clayton's confirmation hearing some senators questioned whether he will make good on those assurances given his deep ties with Wall Street.

"There is zero room for bad actors in our capital markets," Clayton told members of the Senate Banking Committee on Thursday. "I am 100% committed to rooting out any fraud and shady practices in our financial systems. I recognize that bad actors undermine the hard-earned confidence that is essential to the efficient operation of our capital markets."

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