The leadership of the Committee on Financial Services of the US House of Representatives was not satisfied with the response of the chairman of the Securities and Exchange Commission, Gary Gensler, to its request for documents. For this reason, they have once again addressed Gensler in a harsh letter.
Committee Chairman Patrick McHenry and Subcommittee Oversight and Investigations Chairman Representative Bill Huizenga wrote to Gensler on February 10 “demanding records and communications between the SEC Control Division, the Office of the President and Department of Justice (DOJ)” in connection with the timing of the indictment and subsequent arrest of former FTX CEO Sam Bankman-Fried.
Bankman-Fried was scheduled to appear before the Financial Services Committee, but his arrest prevented him from testifying.
#NEW: Chairman @PatrickMcHenry and @RepHuizenga call out @SECGov Chair Gensler for failing to provide information on charges against @SBF_FTX.
The lawyers are considering all avenues to compel documents requested by Congress.
Read more https://t.co/LzZllFfHaQ pic.twitter.com/q1CNfW1npm
— Financial Services GOP (@FinancialCmte) April 13, 2023
The SEC has missed deadlines for filing requested documents, thereby hampering the commission’s work. In addition, SEC staff provided 232 pages of documents that “were publicly available and did not respond to request.”
The legislators set April 17, at the end of the working day, as the new deadline for the delivery of certain documents. They warned:
“Failure to submit the requested information could result in the Committee considering resorting to a mandatory procedure, if necessary, to obtain the requested information.”
Attached to the letter were 14 pages of instructions “for the purposes of this request” for submitting the material that the congressmen had requested.
Gensler will appear personally before the commission on April 18, McHenry has announced.
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