- The U.S. Parliament has requested communication details from the SEC over the investigation of SBF.
- The SEC chair was given until 5pm, February 24 to provide requested information.
- GOP’s aims at providing transparency in the investigation of SBF over his role in the FTX collapse.
The U.S. Parliament has issued an ultimatum to Gary Gensler, chairman of the Securities and Exchange Commission (SEC), asking him to provide information concerning the commission’s investigation of FTX. Gensler was given until 5.00 p.m. February 24, 2023, to submit outlined records to the GOP.
In a letter dated February 10, 2023, the U.S. parliament’s committee on financial services requested that the SEC chairman provide the details of his commission’s investigation of Sam Bankman-Fried (SBF) concerning the FTX collapse. The parliament asked Gensler to provide communication records between some of the key participants in the investigation by the SEC.
The records demanded of the SEC chairman include communication between and among employees of the SEC’s Division of Enforcement, including Gubir Grewal, the Department’s Director, referring to or relating to the charges filed against SBF by the SEC.
Parliament requested records of all communications between and among any employee of the office of the commission’s chairman, including but not limited to Gensler on the same issue. Also part of GOP’s request are records of all communication of any employee of SEC with the Department of Justice (DoJ) on the matter under investigation. The requested information cover November 2, 2022, to February 9, 2023.
According to the letter, the essence of the request is to pursue a transparent process in the investigation of SBF over his role in the collapse of FTX. The parliament noted rising questions over the SEC’s Division of Enforcement investigation process on SBF. It particularly noted that the timing of the charges against SBF and his arrest raised questions about the commission’s cooperation with the DoJ.
SBF was arrested by Bahamian officials a night before his scheduled appearance before parliament over his role in the collapse of FTX. According to the Bahamian government, the arrest was in anticipation of an extradition request by the U.S. government, having filed criminal charges against him.
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Source: https://coinedition.com/u-s-parliament-summons-sec-chair-over-role-in-ftx-investigation/