Congress has essentially threatened to subpoena Gary Gensler if he does not comply

Earlier in the year the House Committee of Financial Services had requested Gary Gensler and the SEC to produce relevant documents to the communications and processes associated with SBF charges which resulted in his failure to appear for his congressional hearing, and it appears as though hes dragging his feet in responding. Our favourite bowtied Congressman Patrick McHenry said this:

Thank you for your April 11 letter related to your efforts to comply with our document request. Unfortunately, your commitment in the letter to ‘continue [the] ongoing review of Commission records and supplement the production of responsive materials and information, as appropriate’ is insufficient. On February 10, 2023, we sent you a letter requesting documents related to charges filed by the Securities and Exchange Commission (SEC) against Sam Bankman-Fried. Ignoring the deadline, the SEC actively impeded Committee staff from discussing the request with anyone in the Office of the General Counsel until Chairman Huizenga formally requested a conversation with the SEC General Counsel. The subsequent staff level conversations have yet to yield any of the requested documents.

The SEC responded saying it was a cumbersome and extensive list of requests and the Committee obliged to narrow the scope, and of course that was the end of the dialogue. Whats most interesting is at the end of the letter he gives the SEC a deadline of 5:00 PM on April 17th to produce the documents and said:

Failure to produce the requested information could result in the Committee considering using compulsory process, if necessary, to obtain the requested information.

The Committee has had enough of Gensler and his lack of cooperation, this is a less-than-veiled threat of subpoena if they dont get the ball rolling.