The Securities and Exchange Commission (SEC) submitted a settlement agreement on Thursday with the defendants Ripple Labs, Inc., Bradley Garlinghouse and Christian A. Larsen, which sets a framework to resolve the action to enforce the committee against them.
The settlement agreement stipulates, inter alia, that the Commission and the Ripple would jointly request the Regional Court to issue an indicative decision on whether it would dismantle the decision against the $ 50 million paid at the center of the Commission in full crisis, ripple.
The settlement agreement further stipulates that, after an indication of the Regional Court of Justice, they will dismantle the order and release the amounts of a penalty shoot -out, as requested, the Commission and Ripple will seek limited detention at the Regional Court for this exemption, after which they will be deprived of their discharge, after which they will be dismissed. are pending today in the United States Court for the second circuit.
The Commission and the defendants submitted the settlement agreement with the District Court in the context of their joint request for a harmonious decision.
The sec commented:
“The committee’s decision to exercise its discretion and to seek to resolve this pending implementation action of the enforcement is based on its judgment that this resolution will facilitate the Commission’s decision to resolve this imposition of the Commission on the Commission Commission.