News By  Gagarin News
Normal +2 446 12 May 2023
Normal +2

SEC Chair Gensler Given Ultimatum

By  Gagarin News 446 12 May 2023
Photo - SEC Chair Gensler Given Ultimatum

The United States House Committee on Financial Services has established a May 19 deadline for Securities and Exchange Commission (SEC) Chair Gary Gensler to address their queries.

The committee is requesting access to non-public internal documents concerning the SEC's activities, such as charges against FTX's founder Sam Bankman-Fried, regulations on cryptocurrency, and disclosures related to corporate climate.

Gensler and the SEC staff have been criticized for providing inadequate responses to the committee's inquiries. The ultimatum represents the latest effort by the committee to gain a better understanding of the SEC's functioning under Gensler's leadership.

Should Gensler fail to meet the imposed deadline, the committee has expressed its intent to question the SEC's General Counsel and the director of the Legislative Affairs Office.