The Empower Oversite has filed a case against the US Securities and Exchange Commission for failing to disclose a long -awaited report on moral conflicts and selective enforcement within the agency.
The SEC office of Inspector General had completed the report more than a year ago, but the agency has not released it despite repeated independence of the requests of the Information Act. trial,
The lawsuit attempts to force SEC to disclose the findings related to the former SEC division of Corporate Finance Director William Hinman.
The investigation focuses on the possible struggles of interests involving Hinman’s back -firm, Simpson Thaccher, which had financial interests in promoting the Etharium (ETH).
Sex ‘silent treatment’
The Empower Oversite has followed SEC transparency since August 2021, seeking many FOIA requests and cases, demanding documents related to agency communication with crypto institutions. The Watchdog argues that the delay of SEC suggests a pattern to avoid accountability in its enforcement operations.
“SEC’s silent treatment is old and tired, and refusing to release these records is quite clearly, suspicious,” Said Triston Levitt, Chairman of Empower Oversite.
Levit insisted that transparency is necessary to address concerns over regulator bias and ensure accountability in the Crypto region.
The SEC has faced growing criticism for its regulatory approach, with industry leaders, including coinbase, the agency of selective enforcement.
Former SEC president Gary Gansler also faced an investigation for aggressive litigation against major crypto firms such as Coinbase and Ripple.
The Empower oversight SEC is committed to receiving the OIG report, arguing that public access to conclusions is necessary to evaluate the handling of the agency of Crypto rules.
