Securities and Exchange Commission (SEC) Chairman Gary Gensler is expected to answer inquiries on MMTLP during a hearing on Tuesday, April 18th.
Investors have gotten in touch with several government representatives and told their stories relating to the MMTLP scandal.
Earlier this month we found out Congress was getting involved in the MMTLP scandal through a leaked letter sent out to Meta Materials CEO George Palikaras; however, a new letter from Congress details an ongoing investigation into naked short selling and other market fraud.
Congressman Bill Posey said in a letter that he’s been hearing from a variety of constituents on retail’s concerns involving MMTLP.
“While we have yet to be given evidence that anyone acted unlawfully or unscrupulously in this matter, I believe the regulatory agencies have an obligation to investigate this matter,” said the Congressman.
But evidence has indeed surfaced.
Conversations between FINRA and the SEC confirm the regulators knew of the fraud that was occurring in ticker symbol MMTLP.
Now investors are confirming they’ve been in contact with Congressman Warren Davidson, who has apparently confirmed to them SEC Chairman Gary Gensler will be questioned about MMTLP in front of the House Financial Services Committee.
Latest MMTLP Stock News
A lot has happened since the U3 halt of ticker symbol MMTLP.
FINRA has responded to investors, though no solutions have been provided.
And now congress is investigating the fraud with investors expecting Gary Gensler to answer questions about MMTLP in the upcoming hearing.
Here are just but a few questions investors are inquiring about the events:
- Is the SEC aware of the U3 halt and investigation by FINRA into the listing, trading and halting of MMTLP?
- Has the SEC seen the blue sheets on MMAT and MMTLP, and if so, why doesn’t the public have these numbers?
- Has the SEC investigated any of the short sellers or market makers who were short on MMTLP after the merger between Torch and MMTLP?
- Relating to the OCC, has the SEC investigated their role and lack of oversight?
- Is the SEC aware of any communications FINRA had with market participants and FINRA reps on the MMTLP situation since its inception to ending?
- When you discover who the bad actors are, what punishment will they receive?
But John Brda, former CEO of Torchlight, which merged with Meta Materials in 2021, says he has two solutions for regulators.
John Brda has played a big role in getting the government’s attention on MMTLP, primarily behind-the-scenes.
Here are the solutions Mr. Brda has shared with investors in the retail community.
John Brda on MMTLP
John Brda says that there are two distinctive ways to resolve the MMTLP situation.
- Is to allow two days of trading under strict supervision.
- And the second is to get the ‘bad actors’ to solve their settlement problems by buying shares of Next Bridge Hydrocarbons.
“You really have two ways to resolve the situation. You can basically allow for two days of trading under supervision so that there’s no funny business going on; there’s no additional shorting, there’s no buying from retail, it’s only position close only.
And there would be short covering only in that situation. But that cannot be under the ticker symbol MMTLP. The only way that could happen is with FINRA’s involvement and Next Bridge’s involvement as well to allow it to happen.
And again, for two days only, give people the two day that they missed and see where the chips fall; we’ll see what happens in that situation.”
“The only other scenario would be for, again after finding out all the information via blue sheets and share counts and information/questions we ask FINRA, how bad the situation is and who is involved, is that those actors can come to Next Bridge, try to solve their problem by buying shares from Next Bridge Hydrocarbons and settling out their issues that way.
We’ll see where it goes – I believe those are the only two solutions and hopefully we’ll get to a solution here shortly.”
You can watch the full interview below.
Gary Gensler on MMTLP
SEC Chairman Gary Gensler has been known to doge questions regarding manipulation and regulatory accountability very well.
Hearing him answer questions about the MMTLP scandal will be quite interesting to hear.
Are there any other questions you would like the SEC Chairman to answer?
Leave your thoughts below.
This is a developing story – join the newsletter below to stay up to date on the latest MMTLP stock news.
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- Investigations Widen: Congress Now Involved (MMTLP)
- MMTLP Investors Want Their Two Trading Days Back
- MMTLP Shareholders Demand FINRA Release Blue Sheets
- Subpoenas Will Go Out Says John Brda
- MMTLP Investors Now Reaching Out to Oversight Committee
- FINRA Responds to Investors Affected by MMTLP Aftermath
- MMTLP Scandal Recognized as Biggest Wall Street Fraud
- MMTLP Injustice is Now Spreading Like Wildfire
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