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“AFTER REASONABLE INQUIRY, THE INFORMATION KNOWN AND CURRENTLY AVAILABLE IS NOT SUFFICIENT TO ENABLE THE COMMISSION TO ADMIT OR DENY THIS REQUEST,” THE SEC

“AFTER REASONABLE INQUIRY, THE INFORMATION KNOWN AND CURRENTLY AVAILABLE IS NOT SUFFICIENT TO ENABLE THE COMMISSION TO ADMIT OR DENY THIS REQUEST,” THE SEC

The United States Securities and Exchange Commission (SEC) cannot confirm or deny if a video featuring Bill Hinman actually features Bill Hinman.


Bill Hinman, also known as William Hinman, is a former director of the SEC's Division of Corporation Finance, and has been a key figure in the long-running legal dispute between the SEC vs Ripple Labs over alleged non-registration of securities with Ripple (XRP) tokens.


Speaking at the 2018 Fintech Week Conference - while serving at the SEC - Hinman said the Ether (ETH) sale was not a "safety operation."


But, it seems the SEC is dragging its feet on a clear agreement in the hope of reducing the case.


According to Wednesday's proposal to enforce the Import Applications (RFAs) submitted by the Ripple Labs legal team Debevoise & Plimpton, the SEC "failed to respond in accordance with applicable laws regarding RFA 53 on important topics where there is no real conflict."


Ripple wants the court to order that the RFAs be approved or that the SEC provide amended responses. With regard to Hilman-focused RFAs, the SEC has not been able to confirm a series of seemingly undeniable cases.


For example, despite the fact that Hinman was fully visible and audible during interviews recorded at a public event, the SEC declined to confirm or deny that the recording was accurate or if the statements made by Hinman were genuine.



Notably, the YouTube video of the Ripple legal team referred to appears to have been uploaded by the interviewer, Chris Brummer, a Georgetown law professor. The account, which dates back to 2016, has its own name, links to profile pictures on all of its affiliate websites.


Apart from this the SEC says it is all over the sea about the identity of this mysterious man:


"Subject to all the objections raised, and after a thorough investigation, the known and available information is currently insufficient for the Commission to approve or reject the application."

The SEC also denied the request that it could not challenge the authenticity of the video, and appears to intend not to allow any information on the matter.


Late last month, after being denied an application to protect Hinman's documents, it re-filed a letter claiming to have the right of attorney and client related internal information about Hinman's 2018 speech.


Many observers have suggested that Hinman's comments may be one of the determining factors in working with the SEC's argument that the XRP token should be considered a protection. It has recently been suggested that Hinman may have a conflict of interest while working for the SEC which could affect the outcome of the case.



On May 11, the anti-corruption watchdog Empower Oversight claimed to have obtained documents under the Freedom Of Information application stating that Hinman had a "direct financial interest" with law firm Simpson Thacher & Bartlett, a member of the Enterprise Ethereum Alliance (EEA). ).

Source: cointelegraphy




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