Clayton appeared on Wednesday to echo some of their concerns generally, lamenting that lawmakers and regulators have "significantly expanded the scope of required disclosures beyond the core concept of materiality."
He also urged companies to apply to the SEC for requests to modify what they are required to include in their routine financial reporting, a process that is allowed under current SEC rules.
Clayton's plan to scale back unnecessary disclosures could spark concerns among progressive groups pushing for new rules, particularly those who support requiring public companies to provide investors with information about their political spending.
A petition submitted to the SEC in 2011 calling for a political spending rule garnered a record number of signatures, but to date, the agency has not acted on it.
Lisa Gilbert, the vice president of legislative affairs for Public Citizen, a non-profit watchdog group in support of the rule, said Clayton's interest in expanding the menu of public investment options for retail investors means she hopes he will be open to considering it.
"I assume he will remain open-minded to what people are asking his agency to do," she said.
In addition to his comments on public company requirements, Clayton also said he plans to have the SEC launch a new fixed income market structure advisory committee to scrutinize the current rules and identify potential reforms.
Clayton said the SEC will also consider a pilot program in coming months to study the impact of the fees and rebates that exchanges charge and provide to brokers.
This article was provided by Reuters.