US lawmaker demands answers from SEC on docs related to Sam Bankman-Fried's arrest
Michigan Representative Bill Huizenga, who chairs the United States House Oversight and Investigations Subcommittee, has called out the Securities and Exchange Commission (SEC) for its failure to produce appropriate documents related to the timing of the charges and arrest of former FTX CEO Sam Bankman-Fried.
In a June 22 hearing on oversight of the SEC, Rep. Huizenga said “100% of the documents” the commission had provided on SBF’s charges and arrest were publicly available, suggesting an inadequate response to the congressional committee. The lawmaker criticized the SEC for failing to meet a Feb. 24 deadline to produce documents that allegedly raised “serious questions about the SEC’s process and cooperation with the Department of Justice” in regards to SBF’s charges and arrest.
Rep. Huizenga suggested the documents provided by the SEC included little more than public briefings on “how the SEC and the Justice Department worked together” in SBF’s case. Megan Barbero, general counsel for the SEC, countered that releasing such documents to the committee was simpler as they “do not require a commission vote” and others were a “significant process and undertaking”.
“Am I now supposed to send all our SEC inquiries to the Department of Justice?” asked Rep. Huizenga.
#HappeningNow: @RepHuizenga convenes the Oversight and Investigations Subcommittee for a hearing entitled "Oversight of the SEC." Tune in https://t.co/QaGMDMUJ2F pic.twitter.com/9qC69GLfVp
Though not always along the same lines of questioning as Rep. Huizenga, other lawmakers invoked FTX and Bankman-Fried in discussing SEC oversight. Texas Representative Pete Sessions asked for details regarding a reported meeting between Gary Gensler and SBF, claiming the SEC chair
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