SEC Watchdog Attributes Loss of Gary Gensler’s Texts in 2023 to Technical Issues

The U.S. Securities and Exchange Commission (SEC) watchdog has pointed to technical failures as the primary reason for the loss of text messages exchanged between its Chairman, Gary Gensler, and other staff members in 2023. Internal reports suggest that technical problems within the archiving system used for preserving text messages led to certain messages not being recorded correctly. This incident raises questions about the reliability of record-keeping systems employed by vital government agencies. A thorough review of these systems is currently underway to ensure such issues are not repeated in the future. The SEC has pledged to take corrective actions to bolster its data preservation and retrieval capabilities effectively.