- The SEC has backed its Motion for Summary Judgment against Ripple Labs in the legal battle.
- The court dismissed Ripple's defense of inadequate notice.
- The SEC's argument could weaken Ripple's defense.
The recent SEC letter references a prior case against Commonwealth Equity Services to assert that Ripple breached the Investment Advisers Act of 1940 by failing to disclose specific conflicts of interest.
https://twitter.com/FilanLaw/status/1645877524780707840
Ripple's Challenge to SEC Rejected by Court
What is particularly noteworthy is that the court rejected the defendant's defense that the SEC did not provide sufficient notice of the disclosure obligations alleged in the...