{"id":332503,"date":"2024-06-27T18:44:39","date_gmt":"2024-06-27T13:14:39","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=332503"},"modified":"2024-06-27T18:44:39","modified_gmt":"2024-06-27T13:14:39","slug":"ripple-clo-spotlights-secs-setback-in-proxy-advisory-firms-rule-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ripple-clo-spotlights-secs-setback-in-proxy-advisory-firms-rule-crypto-news\/","title":{"rendered":"Ripple CLO Spotlights SEC’s Setback In Proxy Advisory Firms Rule – Crypto News"},"content":{"rendered":"

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Ripple CLO Stuart Alderoty has recently taken to X, spotlighting the SEC\u2019s loss in another legal battle. In his post, dated June 27, the CLO draws attention to the SEC\u2019s unlawful rescinding of a rule on proxy advisory firms, cracking down on the regulatory body\u2019s failure to adhere to the Administrative Procedure Act. This chronicle comes in the backdrop of the legal tussle between the National Association of Manufacturers and the SEC. Let\u2019s take a closer look at the saga.<\/p>\n

Alderoty Slams SEC?<\/h2>\n

According to Alderoty\u2019s post on X, the SEC never implemented the 2020 rule. The 2020 rule refers to the changes proposed by the SEC (Securities and Exchange Commission) for the regulation of proxy voting advice. This rule was set for proxy advisory firms to comply with notice-and-awareness conditions before providing voting advice to shareholders or investors.<\/p>\n

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However, the rule never came into effect, as the then-appointed Chair of the SEC, Gary Gensler<\/a>, called for a review of the rule. Notably, in June 2021, Gensler directed the regulatory body to temporarily suspend the enforcement of the rule. This was followed by the recession in November 2021 that urged the SEC to completely elude it. These chronicles, collectively, ensured that the 2020 Rule was never put into action.<\/p>\n

Regarding this, the Ripple CLO appears to be dismayed with the SEC\u2019s handling of the nation\u2019s crucial matters. Not to forget, the Ripple XRP vs the U.S. SEC lawsuit has its own chitchat in the crypto realm.<\/p>\n

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The regulatory body\u2019s failures in other legal battles glimmer hope for Ripple\u2019s ongoing lawsuit.<\/p>\n

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Also Read: XRP Price To Hit $2, Analyst Predicts Amid Massive Whale Movements<\/a><\/strong><\/p>\n

What\u2019s Going On With The Ripple Community?<\/h2>\n

Meanwhile, Ripple appears to have sent tongues wagging across the broader crypto market with its recent endeavors. The firm\u2019s president, Monica Long, talked about the Ripple Vs. SEC lawsuit<\/a>, payments, RLUSD stablecoin, and potential XRP ETF launch, garnering noteworthy attention across the industry.<\/p>\n

<\/p>\n

However, the Ripple-backed token, XRP<\/a>, continued to trade sluggishly at $0.4719 today.<\/p>\n

Also Read: Gulf Energy Taps Into AI With $271M For Data Centers After Binance TH<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Ripple CLO Stuart Alderoty has recently taken to X, spotlighting the SEC\u2019s loss in another legal battle. In his post, dated June 27, the CLO draws attention to the SEC\u2019s unlawful rescinding of a rule on proxy advisory firms, cracking down on the regulatory body\u2019s failure to adhere to the Administrative Procedure Act. This chronicle […]<\/p>\n","protected":false},"author":2,"featured_media":298910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-332503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=332503"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332503\/revisions"}],"predecessor-version":[{"id":332511,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/332503\/revisions\/332511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/298910"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=332503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=332503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=332503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}