The Acting social control Director, Ripple’s lawsuit enforcer Marc Berger resigns from SEC. Predicted to become the SEC’s new chairman beneath Joe Biden is Gary Gensler. A new YouTube video shows Gensler calling XRP a “bridge currency” in 2018.
The U.S. Securities and Exchange Commission (SEC) declared yesterday that brandy P. Berger, the Acting Director of the Division of social control, can finish his tenure at the agency this month. For Ripple and the XRP community, this might be positive news, like the departure of Jay Clayton as SEC Chairman.
Within the SEC’s action against Ripple labs Berger played a significant role. Named Deputy Director in August 2020 was Berger. Berger became SEC’s acting director Division of Enforcement in December.
Time in Division office was short for Berger. Berger used it to guide enforcement of the securities suit against Ripple Labs and its co-founders.
Under Berger’s leadership, the social control Division prosecuted vital cases across the spectrum of the industry. With attention on social control actions associated with unregistered Initial Coin Offerings. Additionally to the action against Ripple, it includes that against Telegram group INC. Which, within the course of proceedings, halted sales of its GRAM token and agreed to return $1.2 billion to investors.
In corporate executive circles Berger was considered a conservativist, because the SEC’s current chairman, Elad L. Roisman, conjointly stressed during a statement on Berger’s departure:
Throughout his tenure, Marc maintained an impressive focus on following unhealthy actors. And finding the most effective outcome for injured investors and for the larger investment public.
In addition to ICO-related social control actions, Berger also plays a vital role within the suit against Robinhood monetary LLC. Misstatements involving the receipt of payment for order flow and violations of the duty to hunt best execution.