• FINRA Leaves Out Many Answers In Response

    For a minute let’s ignore the lies and misdirection in FINRA’s response. When you sit down and really digest the FINRA response to the Open Letter it is woefully insufficient. It’s a 32-page document which repeats 7 pages with the Supplemental FAQ appearing twice. This was probably done because they don’t want anyone to look at the first FAQ, of which was later edited to suit their needs, plus having more pages leads to reader fatigue and confusion.

    But it’s also important to know that the response doesn’t even answer many of the questions posed in the open letter. This is probably the reason FINRA did not number their answers like the questions were, because it would show how many questions they simply didn’t even answer or supply data for.

    A few examples:

    Question 4: “including all unreacted communications between FINRA, SEC, governmental agencies, any outside organizations, FINRA members and non-FINRA members and any other individuals”.

    FAIL. No communications were included in their response.

    Question 5: “Include any relevant documents or communication”.

    FAIL. Nothing was included here to show when FINRA advised when $MMTLP would no longer trade.

    SPOILER ALERT: I have some relevant communication, it’s a Jeff Mendl video (VP of the OTC Markets) you can watch where the last trading date was stated clear as day.

    Question 6: Did FINRA issue a blue sheet request for MMTLP…?


    SPOILER ALERT: I have a FINRA email from Sam Draddy that shows they were blue sheeting MMTLP in December 2022.

    Question 7: How many questions, complaints or inquiries have they received?


    Question 8: Provide the statutory or legal justification used by the SEC and FINRA to ignore public requests and congressional inquiries.


    These are just a few examples.

    OH WOW, they did answer this one:

    Question 15: “Are your organizations willing to work with NBH to determine a resolution…”

    Their answer was apparently a flat out NO.

    “We are willing to continue to engage with you and other Congressional offices on this matter.”

    But I guess they are not willing to work with Next Bridge. What a surprise.

    The only credit FINRA gets is essentially for PARTICIPATION, they at least gave some kind of response, albeit a severely lacking one that hints to Congress that they are definitely hiding something.

    Gary Gensler and SEC, you’re up! You missed the deadline and 74 Congressional representatives, some with subpoena power, are eagerly awaiting your response.