SEC Denied Immediate Access To Telegram's Bank Records

Law360 (January 6, 2020, 9:28 PM EST) -- The U.S. Securities and Exchange Commission cannot gain immediate access to Telegram's bank records after a New York federal judge on Monday denied the agency's emergency motion to obtain the documents in a case alleging the company engaged in an unregistered securities offering.

U.S. District Judge P. Kevin Castel's order, however, asked messaging platform Telegram Group Inc. to submit a proposed schedule by Thursday setting out a plan to review the bank records requested by the SEC so that any production of the records would adhere to data privacy laws.

The SEC said it intended to question Telegram CEO Pavel Durov at his...

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