The US Securities and Exchange Commission wants to revise some notes taken by its officials during meetings with third parties
The US Securities and Exchange Commission has filed a new motion, asking the court for permission to modify certain notes from its meetings with third parties.
The plaintiffs argue that the notes are protected by intentional process privilege (DPP), a common law principle that shields internal agency information.
As U.Today reports, Ripple’s proposal to force the SEC to produce certain internal documents was partially approved by Magistrate Judge Sarah Netburn. Draft emails shedding more light on former top executive Willian Hinman’s infamous Ethereum speech are at the center of controversy. Ripple accuses the SEC of forcing it to compete on an uneven playing field by providing regulatory clarity for its rival and then filed a lawsuit against the company alleging that the XRP cryptocurrency is an unregistered security.
However, the plaintiff then asked the court to reconsider the decision of the deliberative process, arguing against piercing the DPP. In its most recent motion, the SEC said the court allowed it to modify “any part of the Notes” that reflects the author’s own thinking or the deliberations of the staff.The agency, during a meeting with Stanford Law School professor Joseph Grundfest and then-SEC Commissioner Daniel Gallagher in February 2014, SEC’s crypto czar Valerie A. Szepnik, which focuses on the legal status of bitcoin.
In June 2018, Szczepanik also met with cryptocurrency lobbying group Coin Center to discuss the legal characterization of initial coin offerings.
The SEC also attempted to modify notes made during a meeting with the Massachusetts Institute of Technology by Michael Seeman, former senior special counsel to the director of the corporation’s finance department, and Jonathan Ingram, a former deputy chief counsel in Corp. Fin’s chief attorney’s office. Professor Christian Catlin.