New: Ripple (XRP) Requests More Time to Respond to SEC’s Proposed Redaction of Key Documents

Ripple (XRP) Requests More Time to Respond to SEC’s Proposed Redaction of Key Documents.

Following the Securities and Exchange Commission’s request to redact certain portions of some meetings’ notes between the agency and third parties, Defendant, Ripple, has filed a motion seeking an extension of time to respond to the SEC’s proposed redaction. 

The blockchain company and Individual Defendants, Chris Larsen and Brad Garlinghouse, filed the motion yesterday, stating that it has received the SEC’s consent for an extension to the deadline to respond to the SEC’s request.

#XRPCommunity #SECGov v. #Ripple #XRP Defendants file a motion for extension of time to respond to the SEC’s proposed redactions. pic.twitter.com/pZi2Dgdd6K

— James K. Filan ???? (@FilanLaw) March 25, 2022

Ripple requested that the securities agency provide notes with the requested materials redacted to enable the blockchain company to access and determine whether there is a need for a redaction. 

The SEC agreed to provide the requested documents early next week following its request. Once the Defendants have received the documents, the parties have agreed that Ripple will be required to file a response to the SEC’s redaction request within three business working days, which is subject to the Court’s approval. 

It is worth noting that March 28, 2022, was set as the deadline for Ripple to file a response to the Securities and Exchange Commission’s letter. 

However, should the Court grant Ripple’s request, the company’s response could be filed by Friday next week. 

SEC Requests Redaction to Few Documents

Recall that on March 24, 2022, the SEC took advantage of January 13, 2022, Deliberative Process Privilege (DPP) ruling to request a redaction to some portions of selected meetings’ notes with third parties. 

The SEC noted that some portions of the documents it plans to edit are notes conveying the author’s personal opinion and deliberations among staff at the agency during the meetings. 

As reported earlier, some of the proposed redactions include Michael Seaman’s minutes of an April 2018 meeting, Valerie Szczepanik’s documents taken in a February 2014 meeting, and Jonathan Ingram’s notes of an April 2018 meeting.