Exchange Point LLC v. United States Securities & Exchange Commission

OPINION AND ORDER

SCHWARTZ, District Judge.

Exchange Point LLC (“Exchange Point” or “Movant”) moves the Court to quash or modify a subpoena issued by the Securities and Exchange Commission (“SEC”) on First Union National Bank (“First Union”) with respect to Exchange Point’s bank account at First Union. For the reasons that follow, the motion is DENIED.

FACTUAL BACKGROUND

Exchange Point is a single member limited liability company organized under Delaware law. (Declaration of Alón Moussaief at ¶ 1.) Alón Moussaief is the sole owner and president of Exchange Point. (Id.) Exchange Point primarily…