The SEC was hit with a lawsuit alleging it violated a federal spending law by pursuing an investigation and filing an enforcement action against the founder of a commodities trading fintech during the 43-day government shutdown.
The Securities and Exchange Commission’s investigation of Srinivas Koneru over several years didn’t involve any emergency threat to human life or property that would justify continuing the probe during the shutdown under the Anti-Deficiency Act, the former executive of Triterras Inc. said in a complaint filed Sunday in the US District Court for the District of Columbia.
Koneru further alleged the SEC violated its ...
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