Judge reaffirms that SEC must produce materials related to Hinman speech in Ripple case

Quick Take

  • A magistrate judge has again denied the SEC’s attempts to shield documents related to a 2018 speech in its ongoing fight with Ripple.
  • Previously, the SEC argued the speech was irrelevant since it constituted personal views, then it attempted to employ statutes that protect deliberations in official agency business. 
  • In the opinion and order, Magistrate Judge Sarah Netburn called out the SEC’s use of conflicting arguments to shield the documents.

A magistrate judge reaffirmed yesterday that the Securities and Exchange Commission (SEC) must hand over documents related to former Commissioner Bill Hinman's speech on cryptocurrencies in its case with Ripple.

Notably, Magistrate Judge Sarah Netburn's opinion further accused the regulator of adopting arguments to further its desires rather than adhere to the law. 

The SEC first brought a case a