Is the US SEC playing on the back-foot with Ripple’s offensives in court?
The US Securities and Exchange Commission (SEC) has been facing the heat from different directions. The US regulatory watchdogs had locked horns in an ongoing battle with the fintech firm, Ripple Labs. Here, Defendant had launched offensive attacks against the SEC, allegedly to put the latter in the back seat.
An action filed by Empower Oversight Whistleblowers & Research, last year wanted the SEC to comply with a Freedom of Information Act. It was related to potential conflicts of interest in its cryptocurrency-related enforcement decisions.
Now, the two agencies made headlines with the latest update.
<p lang=«en» dir=«ltr» xml:lang=«en»>SEC Releases E-mails to Empower Oversight in Crypto Conflicts Lawsuit, Still Searching for Morehttps://t.co/coeiFeQd9N— Empower Oversight (@EMPOWR_us) February 25, 2022
On 25 February, SEC Released e-mails to Empower Oversight in crypto conflicts lawsuit – obtained the first documents from the SEC as a result of this litigation under FOIA. The said documents had emails between two now-former senior SEC officials, Simpson Thacher & Bartlett.
It included 1,053 pages of emails involving William Hinman, the former Director of the SEC’s Division of Corporation Finance, and 46 pages of emails involving Marc Berger, the former Acting Director of the SEC’s Division of Enforcement.
However, due toformatting issues, many of those pages were almost entirely blank and contain duplicate information. Nonetheless, the authority appreciated this move from the SEC.
Jason Foster, Empower Oversight Founder and President stated:
“This initial document production by the SEC is a step in the right direction, but it must keep its commitment to conduct additional searches to fulfill its legal obligation to
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