.SECGov has drawn on recent court ruling to bolster its case against Ripple
between the U.S. Securities and Exchange Commission and blockchain firm Ripple Labs, the SEC has filed additional support for its pending Motion for Summary Judgment.
The court sided with the SEC, determining that the defendant had violated negligence-based provisions of the Investment Advisers Act of 1940 by failing to disclose certain conflicts of interest. The agency insists that the Howey case and its successors provided Ripple with enough fair notice to invalidate their constitutional defense.contends that the commonwealth case strengthens the chain of district court decisions that have dismissed fair notice defenses in SEC enforcement actions.
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