Ripple Responds to SEC’s Motion to Redact Selected Documents.
Ripple cannot challenge the SEC’s request at the moment because it has little knowledge about the proposed redactions.
Popular blockchain company Ripple and Individual Defendants, Brad Garlinghouse and Chris Larsen, have responded to the Securities and Exchange Commission’s request to redact some portions of the meeting minutes between the agency and other third parties.
Ripple’s Response
According to Ripple, it will not currently challenge the SEC’s motion to redact some portions of its handwritten notes between the agency and third parties because it does not have access to these documents.
The company stated that since the handwritten notes are with the court and it has not gotten the opportunity to analyze them, it would be relying on the SEC’s representation and the court’s review.
This, according to Ripple, will decide whether the “proposed redact portions reflect the author’s own thinking deliberations or communications among SEC staff during the meeting.”
Apparently, Ripple is leaving the court to decide whether the proposed redacted portions of the documents are protected by Deliberative Process Privilege (DPP).
#XRPCommunity #XRP #SECGov v. #Ripple #XRP Ripple responds to the SEC motion regarding the redactions, and relies on the SEC’s representations and the Court’s review to determine whether the redacted portions “expressly reflect the authors’ own thinking or reflect pic.twitter.com/KyzORVf3FM
— James K. Filan ???? (@FilanLaw) April 4, 2022
Redaction Proposals
Recall that the SEC last month filed a motion to redact handwritten notes of meetings’ minutes between the commission and third parties.
The Securities and Exchange Commission argued that the proposed redacted portion conveys the personal opinion of its staff and cannot be used as public guidance.
Instead of leaving anything to chance, Ripple requested that it need go through the proposed redacted notes and ask the securities regulators to forward the documents to them in order to determine whether it would challenge its redaction motion.
It seems Ripple was only given complete handwritten notes from the meeting minutes and the blockchain company could not identify the exact portion the SEC wanted to redact.
Based on little knowledge of the exact portion, Ripple is relying on the court’s decision to determine whether the proposed redaction is protected by the DPP.
It is expected that Ripple could challenge the motion again, should it feel that the notes do not reflect the personal opinion of the SEC’s staff.
At the moment, the Ripple community is waiting for decisions on the motion for reconsideration, the motion to strike the supplemental expert report, the motion to compel turnover of the Estabrook notes, and now the redactions.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
