According to Bloomberg, insiders revealed that Damian Williams, the United States Attorney for the Southern District of New York, has shared his plan with colleagues after Trump's election this month, stating that he will resign before Donald Trump takes office in January next year, marking the end of his term actively prosecuting Wall Street crime. Trump announced last week that he will appoint Jay Clayton to replace Williams, who served as Chairman of the U.S. Securities and Exchange Commission until 2020. This preemptive measure will result in Williams resigning according to his own wishes, while US Deputy Prosecutor Ed Kim will temporarily take over the highest position. After Trump takes office, Williams and many other US prosecutors appointed by President Biden across the country will almost certainly be replaced. Most US prosecutors will continue to serve until they are formally asked to resign.