SIFMA Sues SEC Over 'Lack of Transparency in Enforcement Actions'
CryptoNewsTerminal Staff06 Jun, 2024
SIFMA Sues SEC Over 'Lack of Transparency in Enforcement Actions'
The Securities Industry and Financial Markets Association (SIFMA), a trade group representing broker-dealers, has filed a lawsuit against the Securities and Exchange Commission (SEC). SIFMA accuses the SEC of failing to provide transparency in its enforcement actions and not responding to Freedom of Information Act (FOIA) requests in a timely manner. The lawsuit alleges that the SEC's enforcement actions are often opaque, making it difficult for the public to understand why certain actions are taken or what factors are considered in determining penalties. SIFMA also claims that the SEC has failed to comply with FOIA requests, which are essential for promoting transparency and accountability in government agencies. The SEC has not yet commented on the lawsuit.
