The Chairman of the Financial Services Committee of the United States House of Representatives, Patrick McHenry, has threatened to summon the Securities and Exchange Commission (SEC) to court due to his inability to access documents related to the former FTX CEO, Sam Bankman-Fried. McHenry criticized SEC Chairman Gary Gensler, accusing the commission of hindering the digital asset ecosystem and refusing to be transparent with Congress.
Communication Records Between Department of Justice Personnel and SEC Personnel Are Being Requested
In February, McHenry’s committee, under his leadership, requested communication records between Department of Justice personnel and SEC personnel regarding charges brought against Sam Bankman-Fried. However, even seven months later, they have not received any response to this request and have still not obtained any undisclosed documents.
“Seven months later, the committee has not received a single undisclosed document. As I’ve said, our patience is running thin, and I do not want to be the chairman of this committee that resorts to serving the Securities and Exchange Commission with a subpoena.”Patrick McHenry
As the tension between the Securities and Exchange Commission and the House Financial Services Committee continues to escalate, the Committee is demanding more transparency from the SEC and states that they will take this matter to court if they do not receive the necessary information in the near future.