• FINRA/Congress Meeting June 9th

    We now have confirmation that the previously rescheduled meeting between Congress and FINRA has been set for Friday, June 9th. This is the same day Mark Basile’s response is due in court regarding the bluesheet petition.

    This was the meeting that the community tried diligently to get John Brda invited to, but this request appeared to fall on deaf ears.

    The meeting is supposed to be a chance for Congress to ask FINRA representatives questions, and our community is hoping those are at least some of the questions John Brda originally submitted and not softball questions like “Don’t you guys have immunity?”

    Many in the community are nervous about an unsupervised FINRA/Congress meeting with no one there to call out any false or misleading statements. Hopefully we can obtain a transcript or recording of the meeting later to see what damage control might need to be done, if any.

    Andrew is encouraging community members to call the committee members beforehand with the following talking points he prepared:

    • Let them know that you are aware of the briefing that FINRA will be giving to the staffers of the members of the House Committee on Financial Services.
    • Mention FINRA’s ability to allow for temporary position close only trading of Next Bridge to reconcile shares affected by counterfeit and naked shorting practices. Ask them to urge FINRA to work with Next Bridge to get this done, and demand a reconciliation of the counterfeit shares.
    • Let them know: We are looking for a two day temporary trading period, position close only, all brokers mandated to participate, forced reconciliation with Congressional Oversight, and for Next Bridge to go back to being non tradable upon completion.
    • Ask them to meet with John Brda and Wes Christian through a meeting or consultation with Committee members after trading is complete to ensure that it was all done the right way.
    • Highlight the need for transparency and accountability in our markets, and truth during the temporary trading period.
    • Express gratitude for their time and commitment to protecting citizens’ interests.

    Phone numbers and a complete script is also available from Andrew’s link.

    Community members worried about the meeting not represented at all by MMTLP are voicing their opinions on Twitter.

    I too, pray he’s wrong and this isn’t James Angel 2.0.

    Others are a bit more optimistic, hoping MMTLP get’s their own meeting.