Senator Mike Crapo issues a strong letter to FINRA President Robert W. Cook.
This powerful letter from the Senate deviates from the previous attempts at resolution by targeting the SEC.
The Financial Industry Regulatory Authority (FINRA) is a non-governmental, not-for-profit organization that regulates the U.S. securities market. FINRA’s mission is to protect investors from fraud and bad practices, a task at which it gravely fails. FINRA’s oversight is from the Securities and Exchange Commission (SEC).
The U3 Halt was issued by FINRA themselves, so seeking answers from Cook himself seems like a great plan. Let’s bring him before a committee and have him testify under oath.
A copy of the full letter is archived here:
This letter includes 4 main requests that FINRA should be providing to Senator Crapo.
- Provide a briefing to congressional offices
- Confirm the legality and situation around the MMTLP trading halt
- Furnish a detailed outlined response for the expected resolution of MMTLP along with a timeline
- DELIVER AN AUDITED SHARE COUNT OF MMTLP AS OF DECEMBER 9, 2022
While the share count request is the last words of this letter, they are truly the most powerful. Unfortunately this letter contains no deadline date for a response.
We know what Gary Gensler does when asked questions or he is asked to provide information (obfuscation), but it will be interesting to see how Robert Cook of FINRA will respond to this Congressional pressure.
You can read more information about Robert W. Cook from this FINRA website link.
This letter is truly a WIN for the MMTLP community and we thank Senator Mike Crapo for fighting for a resolution for MMTLP Shareholders in Idaho and nationwide.
Previously Senator Crapo has issued a letter to the SEC along with Senator JD Vance and also spent time questioning Gary Gensler in a Senate hearing. He is truly an ally to our community.