United States House Oversight and Investigations Subcommittee chair Michigan Rep. Bill Huizenga has called out the Securities and Exchange Commission (SEC) for not producing the necessary documents surrounding the charges and arrest of former FTX CEO Sam Bankman-Fried (SBF).

Huizenga stated in a June 22 statement that “100% of the documents” provided by the commission on SBF’s charges and arrest were available to the public, shedding light on the SEC’s failure to meet a February 24 deadline for producing documents which allegedly raised “serious questions about the SEC’s process and cooperation with the Department of Justice” surrounding SBF’s arrest.

The Michigan Representative also added that in the case of SBF, the SEC provided just a tad bit more than public briefings on “how the SEC and the Justice Department worked together”. SEC’s general counsel, Megan Barbero, highlighted the following:

“The challenge here in balancing the concerns is that the committee staff has identified as the priority the commission’s action memo, which is the very document that contains the information that could prejudice our civil enforcement action and the parallel criminal investigation.”

Sources:

https://cointelegraph.com/news/lawmaker-demands-answers-sec-docs-sam-bankman-fried-arrest

https://financialservices.house.gov/calendar/eventsingle.aspx?EventID=408876

https://twitter.com/FinancialCmte/status/167186696797463347