SEC Fights Back Ripple’s Motion To Unseal Experts’ Document

The U.S. Securities and Exchange Commission (SEC) has filed its response to Ripple’s motion to speed up the briefing related to the motion to exclude expert testimony. The authority highlights that the Defendants haven’t met and conferred with them on their proposed schedule.

Ripple rejected similar proposed plan

Meanwhile, the SEC mentions that they do not object to the proposed schedule. However, It wants to reply to the defendant’s contentions. It added that last week, the parties engaged in huge negotiations related to confidentiality over the experts and their materials.

As per the motion, the commission had suggested a similar schedule proposed by the Ripple and defendants. However, the accused rejected that and held on to file their motions on the public docket on July 12.

It mentioned that the Defendants requested the authority to provide proposed confidentiality redactions to its experts’ reports. Meanwhile, Ripple rejected to match the proposal over their own experts’ documents.

SEC defends expert’s details

The SEC defended itself over Ripple’s assertion over dodging the criticism of its experts in front of the public. The Commission highlighted that they simply sought a few more days to conduct a thorough review of the briefings.

However, the watchdog has submitted the proposed schedule by the defendants that would be filed on the public docket is appropriate under the circumstances. Meanwhile, the SEC hopes that both parties will agree on a majority of the suggested sealing requests.

The authority is expecting that the Court will guide this issue to make it clear what the Defendants want to oppose. To rule over this issue, the courts have two related applications filed by the SEC. It is done to seal the information regarding the testimony of the experts. while it mentioned that they are subject to heavy harassment and threats.

It added that SEC submit that the parties should meet and confer, and discuss the sealing of the documents.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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