Empower Surveillance has filed a lawsuit against the Securities and Exchange Commission for failing to disclose its long-awaited report on ethical disputes and elective enforcement within the agency.
According to the lawsuit, the inspector’s SEC office completed the report more than a year ago, but despite repeated requests for the Freedom of Information Act, the agency has not yet made it public. .
The lawsuit aims to force the SEC to disclose findings related to former SEC finance department William Hinman.
The study focuses on potential conflicts of interest, including Hinman’s relationship with Simpson Soccer, a former law firm that brought economic benefits to promoting Ethereum (ETH).
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SEC’s “Silent Treatment”
Empower Monitoring has been pursuing SEC transparency since August 2021, and has filed multiple FOIA requests and lawsuits seeking documents relating to agency communications with Crypto entities. Watchdog argues that SEC delays suggest a pattern of avoiding accountability in enforcement actions.
“The SEC quiet treatment is old and tired, and it’s frankly doubtful that it refuses to release these records,” says Tristan Leavitt, president of Empower Monitoring. .
Leavitt addressed concerns about regulatory bias and emphasized that transparency is essential to ensuring accountability in the crypto sector.
The SEC is facing an increasing number of criticism of its regulatory approach as industry leaders, including Coinbase, denounce selective enforcement agencies.
Former SEC chairman Gary Gensler also faced scrutiny over aggressive litigation against major crypto companies such as Coinbase and Ripple.
Empowerment Monitoring continues to be committed to obtaining SEC OIG reports and claims that public access to findings is necessary to assess the handling of cryptographic regulatory bodies.
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