Court has recently made an announcement that it may ban SEC to contact foreign regulators in relation to Ripple. A lawyer named James Filan believes that the judge may prohibit the SEC from making MOUs with foreign regulators about Ripple.
Court Announces Chances of Ban for Contacting Regulators Regarding Ripple
James K. Filan, one of the lawyers who represent Ripple fintech giant and two of its highest-profile heads in court. Along with this, the lawyer shared a tweet on Twitter that a brand-new discovery conference will be taking place.
In addition to this, the conference will be concerning the attempts of the SEC to acquire documentation from foreign regulators regarding Ripple. The documentation is to be obtained in order to use them against the firm in the case.
In the recent revelations, it has come to notice that the court has scheduled another conference for the firm and the Securities and Exchange Commission.
It is going to take place on April 30 telephone and will be concerning the Securities and Exchange Commission striving to establish contacts with the foreign regulators that are dealing with Ripple in other countries.
In addition to this, it should also be known that the firm has been developing MOUs with the regulators regarding extra data or documents regarding Ripple that may be pertinent to the lawsuit.
SEC to Ink Similar MOUs with Foreign Partners of Ripple
It has been reported by leading analysts that the Securities and Exchange Commission has been trying to ink likely MOUs with the foreign partners of Ripple.
James K. Filan has shared the tweets that the members of the public may shake hands with the upcoming conference as passive listeners.
In addition to this, he reminded the community that any unsanctioned attempts to record the conference or live stream it on YouTube or any other platform are going to be investigated.
Moreover, the platforms may be subjected to criminal authorizations.
Along with this, it was revealed by the lawyer in a discussion that there can be a possible outcome of the conference.
Filan is expecting that there are high possibilities for the court to ban the SEC to make use of MOUs to acquire data and information about Ripple from its foreign partners and regulators.
In addition to this, he released a statement that read:
“I think there is a decent chance the Court will order the SEC to stop using the MOU requests to get discovery and withdraw any that might be pending.”