The Securities and Exchange Commission (SEC) has required Ripple to disclose important financial information, including the size of its current assets, recent sales, revenues, and expenses, as well as the size of discounts.
In a recent filing, the SEC partially opposed Ripple's attempt to seal and redact evidence related to the dispute.
The authority stated that Ripple failed to overcome the strong assumption that these deposits should be public.
Ripple cited previous positions of the Authority regarding sealing and redaction, but the Authority confirmed that those positions were in the context of specific deposits.
The SEC noted that Ripple was found guilty of illegally selling investment contracts to institutional buyers without providing the necessary disclosures.
The authority argues that Ripple's request to hide financial and securities sales information should be rejected because it lies at the heart of the arguments presented by both parties.
Ripple may be allowed to close some of its financial statements, but it must be obligated to disclose specific financial numbers or contract terms relevant to the compensation request.
The authority stated that not enabling the public to see how the requested remedies compare to Ripple’s actual financial positions will significantly undermine public deterrence.
The authority noted that it limited its objections to information that would be relevant to the court’s decision.
The Authority insists on its opposition to redacting financial information.
In a related context, Ripple confirmed that revealing this information may harm its commercial interests.
