Ripple-SEC Lawsuit: Court Orders the U.S. SEC to Submit Suggested Redactions For In-Camera Review

Sarah Netburn, the United States Magistrate Judge, has ordered the U.S. Securities and Exchange Commission (SEC) to submit all of its suggested redactions for review.

The new development was reported by James K. Filan, a defense lawyer and former federal prosecutor. According to the report, the SEC has to make this submission on or before 8th April 2022.

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James Filan tweeted, “Magistrate Judge Netburn has ordered the SEC to submit its proposed redactions to the Court for in camera review no later than April 8, 2022.”

It can be recalled that there was a ruling back in January, which says that the deliberative process privilege (DPP) does not apply to certain sets of notes since gathering facts from third parties is not necessarily a privileged activity. As reported by U.Today, none of the notes contains attorney-client communications, which is why they are not shielded from production.

Nevertheless, Judge Sarah Netburn also allowed the SEC to redact portions of notes that reflect the staff’s own deliberations or communications.

In late March, the SEC filed a motion to make the Judge allow the redaction of some of the notes that were taken during some meetings with third parties.

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One of the meetings was centered on the regulatory status of Bitcoin with Stanford Law School Professor Joseph Grundfest. The former Ronald Reagan-appointed SEC commissioner warned the regulator against taking enforcement action against Ripple, alerting that it could hurt XRP holders.

One of the said meetings also focused on the legal status of initial coin offerings, which experienced vast popularity in 2017 before crashing massively the following year.

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