Summary
The Securities and Exchange Commission (SEC) is seeking a court order to compel Ripple to provide financial statements and sales contacts. The SEC wants Ripple’s financial statements from 2022 and 2023, as well as contracts related to institutional sales after the SEC filed its complaint in December 2020. The SEC also wants to know how much Ripple made from institutional sales since the complaint was filed. The deadline for remedies-related discovery is approaching, and the SEC claims that Ripple has not produced any post-complaint discovery. The court will have to settle the disagreement between Ripple and the SEC.
Key Points
1. The Securities and Exchange Commission (SEC) is seeking a court order for Ripple to provide financial statements and sales contracts.
2. Judge Analisa Torres ruled that institutional sales of Ripple’s XRP token constitute an unregistered securities offering, while programmatic sales do not.
3. The SEC is requesting Ripple’s financial statements from 2022 and 2023, as well as contracts related to institutional sales after the SEC filed its complaint in December 2020. They also want information on proceeds from institutional sales since the complaint was filed.