SEC appoints CFA’s Director of Investor Protection while under fire over Ripple lawsuit against XRP

The SEC has been criticized for not listening to investors or protecting their interests in its aggressive “regulation through enforcement” tactics.

The Securities and Exchange Commission has named Barbara Roper as Senior Advisor to the Chair with an emphasis on retail investor protection, including guidelines, brokerage and dealer oversight, investment advisor oversight, and audits.

Barbara Roper is currently the Director of Investor Protection for the Consumer Federation of America (CFA), where she has served as the leading consumer advocate on investor protection for 35 years.

Your role at the CFA has helped set the standards for investment professionals that investors rely on for advice and recommendations.

She has also conducted studies on the financial planning industry, government oversight of investment advisers, and state and federal financial planning regulation.

In the past, she played a pivotal role in alerting the need for revision reform following the Enron scandal, the need for mutual fund reform following trade and sales abuse scandals, mutual fund shareholders’ information preferences, the internet’s potential to improve disclosure, and the weaknesses of securities law as the cause of the financial crisis.

She is no stranger to the Securities and Exchange Commission having served on numerous advisory committees for the agency as well as the Financial Industry Regulatory Authority and others.

“Barb is a champion for investors and will be invaluable on behalf of the American public. I have had the pleasure to work closely with her on the Sarbanes-Oxley Act and critical market reforms of the Dodd-Frank Act, and I look forward to working with her again at the SEC, “said SEC Chairman Gary Gensler

“I am very excited to be joining the SEC leadership team and Chairman Genslers. I have dedicated my career to making sure our capital markets work for the average investor. With investor protection at the heart of the SEC’s mission, I look forward to keeping the same focus on the needs of individual investors as I work for the SEC, ”said Barbara Roper, senior advisor to the SEC chairman.

The SEC has been criticized for not listening to investors or protecting their interests in its aggressive “regulation through enforcement” tactics.

His most recent controversial enforcement lawsuit relates to the lawsuit filed against Ripple and its individual defendants over an allegedly unregistered security offering.

Not only was it questionable whether there were enough fair announcements and whether XRP could really be viewed as a security, but the enforcement measures themselves have caused XRP investors, who cannot buy or sell the digital asset in the US, severe stress to exchange for the time being .

John Deaton, attorney for the XRP owners, said that the SEC was targeting them: “That the SEC’s complaint against Ripple did not provide or express any protection that granted or expressed to the owners of XRPs became. If they wanted to reassure the millions of XRP owners, they would have done so in the beginning.

“I’ve said from day one I’m not an expert on crypto or a securities attorney, but it doesn’t take an expert to see that there is much about the SEC lawsuit against Ripple that is very wrong, very corrupt, and very outrageous. I hope that clarity will emerge, but I fear that the fight for the retailers represented in our case has only just begun. “

The lack of clarity has become such an elephant in the room that even Mark Cuban brought up the topic earlier this week.

The XRP community is accusing the SEC of corruption for their dealings with the digital assets space, and Ripple in particular. That view found significant support last week when a high-profile watchdog decided to investigate potential conflicts of interest.

SEC v. Ripple: Find the daily updates on the XRP lawsuit here

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