Ripple defendants and the U.S. Securities and Exchange Commission (SEC) both filed responses to Motions to Seal certain documents. These motions were filed as part of the cross motions for summary judgement that both sides filed. But documents from a Hinman speech that are in dispute have again been included in the latest filing by both sides.
The SEC is against keeping Ripple 6 documents secret.
The court filing shows that the SEC partially disagreed with Ripple’s request to keep some parts of the filing secret. It said that the defendants want to completely seal over 900 documents.
The commission also said that the defendants think that redactions are a good way to protect the privacy of third parties. Even though it says that it contains confidential business information.
SEC says that many of the proposed redactions are too broad to get around the idea that the public should be able to see the information. The US watchdog pointed out a recent court order that says the public access presumption is strongest when the information is relevant to a court’s decision.
Ripple Being Sued
Ripple and the people who are being sued want to keep secret about 11 types of documents. But the SEC doesn’t mind if 6 categories are kept secret, but it will ask the court not to keep secret the other 5 categories.
Defendants criticise SEC for still keeping Hinman documents secret.
In its court filing, Ripple shows that the SEC has always kept the names and identities of witnesses whose testimony it plans to use hidden from the public. But the SEC is now trying to keep the public from seeing the speech that former SEC Director of Corporation Finance William Hinman gave in June 2018.
In the XRP case, the defendants used parts of the Hinman speech documents to back up their motion for summary judgement. The court thinks these documents are important, and since they are used in the motions for summary judgement, the SEC’s request to keep them secret should be denied.
Source: Google Trend