A new letter has dropped from Congressman Mike Levin and this one is not directed to Gary Gensler or Robert Cook.
We have to say this is a brilliant idea. Apparently the SEC has a triennial review of the SEC’s oversight of FINRA which is actually in progress right now.
The letter from Mike Levin, a California Democrat serving North County San Diego and South Orange County is directed to Gene L. Dodaro, Comptroller General of the United States.
While that sounds puzzling to most, the following paragraph in the letter makes this quite ingenious:
“I understand that you are currently undergoing your triennial review of the Securities and Exchange Commission (SEC) oversight of the Financial Industry Regulatory Authority (FINRA). As part of this review, I request that you include information pertaining to the MMTLP trading halt.”
CONGRESSMAN MIKE LEVIN (CA)
What an unexpected angle! Levin goes on to say “[The Trading halt] is an issue that is of the utmost importance to a number of my constituents and I believe that there should be further transparency regarding the events surrounding the trading halt”.
Clearly the Congressional letters to Gary Gensler and Robert Cook of FINRA haven’t produced the desired results for the MMTLP community as of yet. We understand these things take time, and new letters are being added often. However, this approach might just give some of the attorneys and executives over at FINRA a few more headaches, which is always good news.
Thanks to FTHFUL2theBay who appears to be the first person to post this, so we assume he played a role in getting this letter sent out.
The only odd thing we note is the letter does not seem to be dated, but we hope that’s just an oversight by Mike’s office and the letter is current.
A copy of the letter is available as an archive here, and shown below.
