Republicans in the US House of Representatives, Chairman of the Securities and Stock Exchange Committee Paul Atkins, have been investigating the loss of text messages from former SEC President Gary Ginsner from when he led the agency.
The head of the Financial Services Committee in the House of Representatives said in a letter to Attins on Tuesday that the results of the Inspector General Office in the Securities and Stock Exchange in early September are raising doubts about whether the SEC led by Gensler acted transparency and integrity during its service between 2021 and 2025.
Hill said that the Financial Services Committee in the House of Representatives “is involved with Oig to learn more about their report, request clarity on distinguished questions, and discuss additional fields that require more oversight and investigation.”
Many in the Gensler's encryption are accused of being the key to the Biden theory management plan to pressure banks to reject or limit services for encryption companies and argued at SEC to make industry with multiple lawsuits against encryption companies during his term.
Republicans accuse Jinsler of double standards
The message, which was also signed by members of the house arrangement, Ann Wagner, Dan Mizers, and Biran Steel, said Jinsler's lawsuit against many financial companies due to “failures in saving records on a large scale”, as it raised more than $ 400 million of fines to settle fees alone in 2023.
Republicans in the House of Representatives claimed that deleted text messages highlight a clear dual standard.
“It seems that the former president, Jinsler, has a company on a level that has not fulfilled his own agency.”
The SEC Information Technology Department drew on deleted texts
Oig said that the SEC Ministry of Information Technology has implemented an incomprehensible automatic policy that sparked fully funding from the government's Genler's mobile phone, which also deleted text messages between October 2022 and September 2023.
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The loss has been exacerbated by the weakness of the change management, the lack of appropriate backup devices, the system alerts that have been ignored, and the defects of the unproductive sellers programs.
I lost talks with encryption enforcement procedures
Oig found that some deleted texts of Ginsler guaranteed SEC enforcement measures against encryption companies and their founders, which means that the main communications on how and when SEC follow -up cases were not fully known.
SEC also witnessed a mistake in security in January 2024, when one of the infiltrators exposed his X account to publish false news that he agreed to the Bitcoin (BTC) boxes.
X is attributed to the security breach to the SEC to not enable the dual -factor authentication.
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