Congress interest in the MMTLP fraud grows per new letters sent to SEC Chairman Gary Gensler.
Two letters have recently been sent to the SEC Chair and FINRA CEO on Tuesday and Wednesday of this week from two different members of Congress.
On Tuesday, Congress member Jared Huffman wrote to Gary Gensler and FINRA CEO Robert Cook describing constituents who are experiencing financial distress as a result of FINRA’s halt trading of MMTLP on December, 8, 2022, just days before the deletion of the ticker on December 13, 2022.
“Some of my constituents are seeking information on why this action was taken and the future state of their investments.
They are requesting affirmation that SEC and/or FINRA acted within their regulatory authority and operated under standard practices by issuing the trading halt, and a a written response outlining what they can expect to occur with regard to their current holdings, including timelines,” said the Congress member.
On Wednesday, Congress member Vicente Gonzalez wrote to SEC Chairman Gary Gensler also requesting answers on the MMTLP fraud.
“I have heard from many of my constituents in South Texas who were adversely affected by this decision. I believe it is imperative that, as public officials and offices, we maintain a transparent process..
As a Member of the House Financial Services Committee, I take an active interest in ensuring transparency and the proper regulations are in place to protect investors and maintain efficient markets.
That is why I urge you to investigate the events surrounding the trading halt of MMTLP and ensure no wrongdoing took place. I also ask that you make the findings available to the public,” said the letter.
As of today, MMTLP investors remain hidden in the dark from our regulators.
This is a developing story — follow me on X (Twitter) for more news and updates like this.
Also Read: A Senator Now Puts Pressure on FINRA Regarding MMTLP
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