Damian Williams, the prosecutor for the Southern District of New York, revealed that he plans to resign before Donald Trump's inauguration in January, marking the end of his term actively prosecuting Wall Street crimes. Trump announced last week that he would appoint Jay Clayton to replace Williams, who served as the chairman of the U.S. Securities and Exchange Commission until 2020. After Trump took office, Williams and many other U.S. prosecutors appointed by President Biden across the country will almost certainly be replaced. Most other U.S. prosecutors will remain in their positions until they are formally asked to leave. (Bloomberg)