SEC to close regional office after judge dismisses DEBT box case
A judge ordered the U.S. Securities and Exchange Commission to pay $1.8 million following “bad faith conduct” over a temporary restraining order to freeze DEBT Box’s assets.
The United States Securities and Exchange Commission (SEC) will close one of its eleven regional offices after a federal judge ordered the regulator to pay roughly $1.8 million in attorney and receivership fees.
In a June 4 notice, the SEC said it would close its Salt Lake Regional Office in 2024—just one of eleven regional offices in the country. The commission said the closure was due to “significant attrition” at the office and planned to shift operations to Denver.
The announcement came roughly a week after Judge Robert Shelby dismissed the SEC’s civil lawsuit against Digital Licensing, the firm doing business as DEBT Box. He also signed off on an order requiring the SEC to pay roughly $1 million for attorney fees and costs and $750,000 for receiver fees and costs.
Go to Source
Author: Turner Wright
