U.S. lawmakers have accused the SEC under Chairman Gary Gensler of 'regulatory hypocrisy and inconsistency.' regulation transparency
US Lawmakers Accuse Gary Gensler of 'Hypocritical Mismanagement of SEC' — Say the Chairman 'Refuses to Practice What He Preaches'
Recent reports suggest that SEC officials are using ‘off-channel’ communications platforms, such as Signal, Whatsapp, Teams, and Zoom, for official business and without producing these records in response to open-record requests. “While the SEC is failing to comply with federal transparency and record-keeping laws, the SEC is aggressively enforcing record-keeping laws on private businesses,” the lawmakers continued. “The SEC recently charged 16 firms more than $1.1 billion combined for allegedly failing to maintain and preserve electronic communications.”Chair Gensler’s regime at the SEC has been characterized by regulatory hypocrisy and inconsistency.
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