“In the interest of transparency and clarity”, FINRA has posted on their website the correspondences between Next Bridge and themselves.
It looks like there were 3 written correspondences between them. The first one didn’t start until April 18, 2023 and the last one is a letter from FINRA dated June 7th.
The PDF files have been preserved at these links:
April 18, 2023 letter from Next Bridge to FINRA
May 19th, 2023 letter from FINRA to Next Bridge
June 7th, 2023 letter from FINRA to Next Bridge
The letters also refer to some phone conversations that took place as well.
The first response from FINRA states how they share in the plight of the shareholders who seem to be upset that Next Bridge shares aren’t tradable anymore.
In addition, these correspondences certainly support Greg McCabe’s statements that they were fighting to get trading days back and the logistics involved in such.
Reading through these FINRA responses is like reading the responses to Roza Tawil’s lawsuit. FINRA is standing by their so called glorious online FAQ’s (which changed several times to better meet their needs).
I think it’s interesting that there was no communication between the two organizations from December until April. It seems that a good four months went by of silence while shareholders were enraged. However, it is good to see that something was done, even if late, to try to fight for what’s right. Now with Next Bridge’s recent dividend offering, the game of chess continues. Hopefully this will lead to a solution sooner than later as we all ponder what our next move is.
Hollywood Henry provided a great breakdown on the April 18 letter in a tweet.
Thanks to community member Rocky for uncovering this information.
You can view the full links and FINRA statements below: