US Judge Rejects Requests from Do Kwon and Terraform in SEC Document Requests

On April 18th, according to court records, US District Judge Jed Rakoff rejected the requests of Do Kwon and Terraform during Friday’s hearing. Do Kwon and his company had previously requested an order to force the SEC to withdraw the documents it had requested from the defendant and Luna Foundation Guard from Singapore’s regulatory authorities. It is currently unclear which records the US Securities and Exchange Commission requests from Singapore, but Terraform is headquartered in Singapore.

US judge ruled that the SEC can request Do Kwon related case documents from Singapore regulatory authorities

In recent court records, on April 18th, US District Judge Jed Rakoff rejected the requests of Do Kwon and Terraform concerning SEC document requests. Do Kwon is a defendant and his company had previously asked for an order to compel the SEC to withdraw documents it had requested from the defendant and Luna Foundation Guard. Terraform, on the other hand, is headquartered in Singapore and the specific records requested by the SEC from Singapore remain unclear. In this article, we will examine this case in further detail and the implications of Judge Rakoff’s decision.

The Background

The Securities and Exchange Commission (SEC) is an independent agency of the United States federal government responsible for enforcing federal securities laws, proposing securities rules, and regulating the securities industry. The SEC has been investigating the activities of Do Kwon and his company for possible securities violations.
Do Kwon and his company, Luna Foundation Guard, had previously asked the court to order the SEC to withdraw documents it had requested from the defendant and Terraform. The specific documents the SEC requested from Singapore remain unclear, but Terraform, being headquartered in Singapore, was mentioned in the case.

The Ruling

On April 18th, US District Judge Jed Rakoff rejected the requests of Do Kwon and Terraform during a hearing. This means that the SEC can continue to request documents from the defendant and Terraform, despite their objections. The Judge did not provide a reason for rejecting the requests, so it is unclear as to what led to this decision.

The Implications

This ruling has significant implications for Do Kwon, Luna Foundation Guard, and Terraform. As the SEC continues its investigations into possible securities violations, information obtained from their requests could be used as part of the investigation. Furthermore, this case highlights the importance of complying with SEC requests, as their investigations can lead to serious consequences.

Conclusion

The US District Judge, Jed Rakoff, has rejected the requests of Do Kwon and Terraform concerning the SEC’s document requests. This ruling has significant implications for the ongoing investigations of securities violations, and highlights the importance of complying with SEC requests. It is crucial that businesses and individuals remain vigilant in complying with regulatory authorities and ensure that their activities remain above board.

FAQs

Q1. What does the SEC do?
A1. The SEC is responsible for enforcing federal securities laws, proposing securities rules, and regulating the securities industry.
Q2. Why did the SEC request documents from Terraform?
A2. It remains unclear which specific records the US Securities and Exchange Commission requested from Singapore.
Q3. What are the implications of this ruling?
A3. The ruling has significant implications for the ongoing investigations of securities violations, and highlights the importance of complying with SEC requests.
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