- The SEC announces the closure of its Salt Lake Regional Office (SLRO), citing a significant attrition.
- The move follows the SEC’s failure in the Debt Box case, where the judge accused the agency of bad faith conduct.
- Paul Grewal criticizes the use of the term attrition, asking whether it refers to the judge’s unprecedented sanctions.
The U.S. Securities and Exchange Commission (SEC) has announced the closure of its Salt Lake Regional Office (SLRO), citing “significant attrition.” This decision follows a court ruling against the SEC in the Debt Box lawsuit, and Coinbase (NASDAQ:COIN) lawyer Paul Grewal criticized the SEC’s use of the term “attrition.”
“Attrition”— is that what we are calling unprecedented misrepresentations and bad faith warranting unprecedented sanctions by a federal judge? https://t.co/rb581Eb0lD— paulgrewal.eth (@iampaulgrewal) June 4, 2024
The SEC recently faced a setback in the Debt Box case when District Court Judge Robert J. Shelby condemned the agency for their “bad faith conduct.” The SEC previously accused Debt Box of a $50 million fraud scheme. However, the judge dismissed the case, ordering the SEC to pay $1.75 million to cover le…
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