House committee chairman threatens SEC chair with subpoena, but not over crypto
James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not start cooperating with it.
Comer also expressed concern about SEC “actions taken to circumvent Congress to further an agenda that harms American taxpayers.” Cryptocurrency proponents in Congress have often complained about Gensler in similar terms, but this letter is not about crypto. Rather, Comer was writing about coordination with the European Union (EU) on environmental, social, and governance (ESG) and climate-related issues, as well as SEC stonewalling.
Gensler is before the SEC’s oversight committee.
The Chairman opened by threatening him with a subpoena as they haven't been responding to requests from this committee
Chairman McHenry is going after him hard
Also this... pic.twitter.com/uYLhyCyLRG
Comer and Senator Tim Scott, who is now running in the Republican presidential primary, wrote to Gensler in June asking for information about United States’ cooperation with the EU on climate legislation that could impact U.S. companies. They sent a similar letter to Treasury Secretary Janet Yellen. In his latest letter, Comer said:
These words practically mirror Patrick McHenry’s letter of April 12, where he wrote, “The 232 pages of documents provided by your staff after the briefing are publicly available and not responsive to the request.” McHenry was writing about his information request relating to the prosecution of former FTX CEO Sam Bankman-Fried. McHenry also threatened Gensler
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