The Financial Post reports in its Friday edition that U.S. President Donald Trump's pick to lead the Securities and Exchange Commission said that he has no specific plans to dismantle taxpayer protections implemented under the Dodd-Frank Act, but that the new White House wants to examine whether the 2010 law is stifling growth. A Bloomberg dispatch to the Post quotes Wall Street lawyer Jay Clayton as saying in his Senate confirmation hearing Thursday: "Dodd-Frank should be looked at, in particular rules that have been in place as to whether they are achieving their objectives effectively. But, I have no specific plans to" attack the legislation. Mr. Clayton, a corporate law partner whose clients included Goldman Sachs and Bill Ackman's Pershing Square Capital Management, also told the Senate Banking Committee that his work for financial firms would be a strength should he win confirmation to run Wall Street's top regulator. The finance industry expects Mr. Clayton to play a key role in Mr. Trump's stated goal of dismantling Dodd-Frank, particularly with congressional Republicans making little headway in pushing legislation that would scrap major elements of the law. Republicans say Dodd-Frank dampens investment.