The U.S. Securities and Exchange Commission's top enforcement official, who left abruptly last week, had clashed with agency leaders over the direction of its enforcement program, including the handling of cases with ties to President Donald Trump and his family, according to three people...
www.reuters.com
“…One case that sparked tension involved cryptocurrency entrepreneur Justin Sun,
a major backer of the Trump family's World Liberty Financial venture, and another involved Tesla boss Elon Musk, a big donor to Trump's campaign who briefly served as the president's special adviser, the two people said.
… under Trump's second administration, the [SEC] chair and commissioners have sought more control, revoking
enforcement staff authority to open formal probes and requiring they seek commissioners' approval.
Ryan, a former Marine and military judge with little experience in securities law, previously clerked for conservative Supreme Court Justice Clarence Thomas.
She … was not accustomed to the SEC's lengthy and protracted process for building consensus around charges and penalties, said two SEC enforcement officials.
She nevertheless won over many career staff by backing them in their dealings with individuals and companies they were investigating, three other sources familiar with the matter said.…”
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