Australian lawyer Bill Morgan has suggested that lawyers at the US Securities and Exchange Commission (SEC) should be fired over allegations of misconduct.
In a December 2 post on
He made this comment in response to criticism from CryptoLaw founder John Deaton and Ripple (XRP) Chief Legal Officer Stuart Alderoty over the SEC’s actions in several major cryptocurrency-related cases.
According to Morgan, what he calls the “duty of candor” compels lawyers to disclose to the court all relevant facts or potential defense arguments, even if they contradict their case.
In a previous post, Alderoty commented on the SEC’s actions in various lawsuits filed against cryptocurrency companies, including Ripple and Coinbase.
He pointed to worrisome patterns of behavior by regulators in their interactions with companies, noting instances in which courts have reprimanded the SEC for its inconsistencies and disregard for established legal practice.
Ripple lawyers also highlighted the SEC’s inadequate response to Coinbase’s request for cryptocurrency rulemaking in June 2023, which led the court to label the regulator’s handling of similar cases as “arbitrary and capricious.”
In light of Alderoty’s claims, Morgan labeled the conduct “serious professional misconduct”, highlighting the seriousness of misleading the court in his ex parte application. He pointed out that those who knowingly engage in such deceptive behavior should be severely punished, including expulsion.