(Bloomberg) -- President Donald Trump’s pick to lead theSecurities and Exchange Commission has earned$7.62 million since 2015 representing some of Wall Street’s biggestfirms, including Goldman Sachs Group and Bill Ackman’s PershingSquare Capital Management, according to a federal disclosureform.

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Jay Clayton, the Sullivan & Cromwell partner tapped byTrump, outlined his clients -- and his potential conflicts -- in afiling to the U.S. Office of Government Ethics that he signed inJanuary.

The breadth of Clayton’s legal work is likely to provide fodderfor Democratic lawmakers, who have already criticized the SECchairman nominee over his ties to the financial industry.

If confirmed by the Senate, Clayton would have to recuse himselffor one year from matters involving Sullivan & Cromwell andcompanies he represented. He also would be barred from everweighing in on a specific business deal or an investigation that heworked on as a lawyer. At least one of Clayton’s clients, ValeantPharmaceuticals International Inc., has disclosed that it’s beinginvestigated by the SEC. Pershing Square, another Clayton client,is among Valeant’s biggest investors and Ackman sits on thecompany’s board.

Clayton’s disclosure form also shows deep ties to Goldman Sachs, where his wife works as a wealthmanager.

Clayton has done legal work for the Wall Street bank and hasrepresented some of its former top executives. They include Roy J.Zuckerberg, who was one of Goldman Sachs’s longest-tenured partnerswhen he retired almost 20 years ago, and Eric Schwartz, the formerco-head of the firm’s investment-management division who left in2007 to start his own business. Clayton’s wife plans to leaveGoldman Sachs if he wins Senate confirmation.

Other Clayton clients include Paul Tudor Jones, the billionairefounder of hedge fund Tudor Investment Corp., and Ally FinancialInc., one of the last big banks to repay the government bailout itreceived during the 2008 financial crisis. Clayton also representedWilliam Erbey, the founder and former chairman of Ocwen FinancialCorp. The mortgage servicing company agreed to pay $2 million inJanuary 2016 to settle SEC allegations that it misstated itsfinancial results.

Democrats, including Ohio Senator Sherrod Brown, his party’sranking member on the Senate Banking Committee, have questionedwhether Clayton will be a tough regulator after he spent his legalcareer representing Wall Street firms.

The banking panel has scheduled Clayton’s confirmation hearingfor March 23. Even if Democrats unite against Clayton, he’s stillexpected to secure enough votes from Republicans to getapproval.

Since Mary Jo White stepped down as SEC chairman inJanuary, the five-member agency has had just two commissioners,Republican Michael Piwowar, who is serving as acting chair, andDemocrat Kara Stein.

With commissioner seats empty and Piwowar and Stein beingmembers of different political parties, the regulator has beenworking on non-controversial policies. Clayton will be expected tohelp the Trump administration advance its stated agenda of rollingback rules should he win Senate confirmation.

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