The SEC argues that it will prevent Ripple from disposing any of its former directors because it “intends to destroy“The defendant’s motion.
Most recently, Ripple first filed a motion with the court to remove William Hinman, the SEC’s former director of corporate finance.
Why does Ripple want to discontinue Hinman?
In the motion, Ripple told the court that they wanted to depose Hinman because he may have some critical information about the SEC’s guidelines and their stance on other digital currencies like bitcoin and ether, and he may also have some critical information about the agency’s communications with Ripple and parties with the status of XRP know of another, as he held a critical position in the agency.
Answer from the SEC:
In a letter of reply from SEC attorney Ladan Stewart to U.S. District Court judge Sara Netbrn, while William Hinman previously held critical positions in the SEC, he had no first-hand insight into the lawsuit and the removal of the former senior official the agency has the burden of pointing out “exceptional circumstances” at Ripple.
The latter stated that if the court upholds Ripple’s motion, the court would judge the former official’s decision-making process, and given if he is[Hinman] long been involved in the lawsuit, it would prove to be “Significant deterrent to qualified civil service applicants”.
Who is William H. Hinaman?
From May 10, 2017 to December 11, 2020, Hinman was a Director at SEC in Corporate Finance. In addition, before joining the Federal Service, he was a partner at Simpson Thacher & Bartlett LLP, a Silicon Valley-based corporate finance group.
After leaving the agency in 2020, Hinman has rejoined the firm as Senior Advisor.