FINRA has responded to the open letter with a lengthy document as reported by Ralph Norman’s office.

For those concerned about #MMTLP and the #MMTLPFiasco, I received a lengthy response from #FINRA (link below). I'm looking forward to talking with @denniskneale on @Kneale_Podcast very soon about this.

Still waiting on a response from you, @SECGov!https://t.co/21OwSwLfaR

— Rep. Ralph Norman (@RepRalphNorman) February 1, 2024

An archived copy of the FINRA response will be saved here.

Norman indicated that there is as of yet no response from Gary Gensler or the SEC.

The community is digesting the letter and issuing individual tweets on different sections on X.

Reminder that Ralph Norman will be on Dennis Kneale’s podcast tomorrow to discuss this.

As the community has had time to read the disingenuous response, several community members are sounding off.

John Brda points out that FINRA has admiited that shares can be held overseas and FINRA has no idea what those numbers are and has no jurisdiction. If this is the case, how can they even tell us what the number of short positions are in MMTLP?

FINRA admits that shares can be held by foreign and overseas custodians, of which they have no jurisdiction. Which means short interest reporting and policing of naked short selling is a sham. Why would the @SECGov or @FINRA allow a US Security to be "offshored" and/or never… pic.twitter.com/mgTjQ6p4Gn

— John Brda (@johnbrda) February 2, 2024

User Prox2001 points out that FINRA does have authority in the USA over their “members” such as brokers E-trade, Fidelity, etc. Half of their response letter talks about how they can’t give data on overseas participants. Ok fine, lets start with the USA participants. They are obfuscating.

And perhaps the largest BS in the FINRA response has to do with share count. FINRA says they have no way to give us this data. Community Member Marcos makes some great points in regards to this.

🚨FINRA cannot perform a “certified audited and consolidated count of shares.”

(GET READY FOR MORE LIES FROM @FINRA AT THE END)

For the past 24 hours, this statement from @FINRA has bothered me A LOT. How come the market "Watch Dog", and I quote, "CANNOT" audit a certified or… pic.twitter.com/hMihWBqZHs

— Marcos – #MMTLP Media Guy (@marcosmonteiro) February 2, 2024

User Methuselah points out with an audio clip of Former Chief from the SEC office of Internet Enforcement John Reed Stark on how easy it is to get blue sheet and trading data.

$MMTLP:
Former Chief, SEC Office of Internet Enforcement, John Reed Stark mentioning SEC Blue Sheet Data obtainment process. pic.twitter.com/kuElWQbvFk

— Methuselah (@SamuelW78996908) September 11, 2023

User RareDD has made an impressive lengthy video in response to FINRA’s letter talking about corporate actions which is worth watching to understand the truth.

Here's a video 🎥 response to @FINRA's January 31st response to @RepRalphNorman. In FINRA's response, they don't include their 3/16 FAQ, presumably bcuz in that FAQ they describe the way FINRA created the $MMTLP corporate actions. @johnbrda @palikaras https://t.co/ki7hkH4Zqh

— Rare DD (@RareDealsHere) February 1, 2024

And finally, if you just want to sit back and relax and have someone go through the whole FINRA response and point out all the BS, watch this great livecast recording with Houston Wade.

Of course it’s important to mention that we are hearing (CRICKETS) when it comes to any response from Gary Gensler. So far there has been no response from the SEC at all.

Representative Norman said on a recent podcast that he will be seeking a subpoena to get more answers.