James Comer, Chairman of the US House Oversight and Accountability Committee, threatened Securities and Exchange Commission (SEC) Chairman Gary Gensler with a subpoena. he books In the letter dated October 12, the SEC would have “no choice” but to use compulsory procedures to obtain the documents if the SEC did not begin cooperating with it.
Coomer also expressed concern about “actions taken by the SEC to circumvent Congress to advance an agenda that harms American taxpayers.” Cryptocurrency advocates in Congress have often complained about Gensler in similar terms, but this letter is not about cryptocurrencies. Instead, Comer was writing about coordination with the European Union on environmental, social, governance and climate-related issues, as well as the stonewalling faced by the Securities and Exchange Commission.
Gensler appears before the SEC’s Oversight Committee.
The President opened by threatening them with a subpoena because they did not respond to the requests of this committee
President McHenry is hot on his heels
Also this… pic.twitter.com/uYLhyCyLRG
– Alistair Milne (@alistairmilner) October 12, 2023
Next and Senator Tim Scott, who is now running in the Republican presidential primary, books to Gensler in June requesting information about US cooperation with the European Union on climate legislation that could affect US companies. they sender A similar letter to Treasury Secretary Janet Yellen. In his last letter, Comer said:
“To date, the SEC has not issued substantively responsive documents, and to date the vast majority of the documents produced have been publicly available on the SEC’s website. […] Or documents that have already been released under the Freedom of Information Act.
These words practically mirror Patrick McHenry’s April 12 letter, in which he wrote: “The 232 pages of documents provided by your staff after the briefing are publicly available and not responsive to request.” McHenry was writing about his request for information related to the prosecution of former FTX CEO Sam Bankman-Fried. McHenry Gensler also threatened a “mandatory operation.” McHenry personally repeated this threat at a House Financial Services Committee hearing.
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Cryptocurrency supporters will also hear echoes for themselves in Comer’s statement “It is not clear that the law provides such authority and we must determine whether legislation is necessary.” In his first letter, Comer reminded Gensler of the Supreme Court of West Virginia v. EPA ruling, which relates to the key questions doctrine and could have an impact on the SEC’s activities in the cryptocurrency space as well.
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