Feb. 28, 2025
Greetings, This email is in direct response of an upcoming hearing on Thursday, March 6th, 2025 of the Security and Exchange Commission Investor Advisory Committee. I have repeatedly attempted to get legitimate answers to questions I have concerning what I believe was an illegal U3 trading halt instituted by FINRA, a company who as I understand it, is overseen by the SEC of the stock ticker symbol, MMTLP. The SEC at the time of the halt was chaired by Gary Gensler. Numerous govt hearings, Congressional letters demanding answers and personal contacts from advocates of those 65k families trapped in the halt have lead to a complete stalling of action to get a resolution to this issue. Hester M. Peirce went on record stating they, meaning the SEC did not know how to fix the problem. She did not say why it couldn't be fixed, only that they had no knowledge of what to do Almost from day one of the halt, shareholders have asked for the Audited Aggregate Share count of MMTLP. This should have been available immediately as it was discovered in a later FOIA request naming Sam Graddy, that those numbers were available BEFORE the U3 halt. Our question then as well as now is why the results lead to the halt in trading. FINRA early on indicated that there would be a settlement issue if the final two days of trading took place. That was obviously not true as we are now over 810 days after the halt, and still no resolution to the settlement issue. We NEVER had a settlement issue, what we had were clients of FINRA, including market makers, broker dealers and others, due to bad judgement on some stocks on their part, were about to suffer catastrophic losses which quite possible would have bankrupted them and their affiliates through the process commonly referred to as Naked shorting. It should be noted that the naked shorting of stock is ONLY allowed for liquidity purposes on a very limited scale. It has been illegal to naked short stocks for almost 20 yrs now. The MMTLP community has suffered too much already. Doctors, veterans, school teachers, bus drivers, people from every walk of life have had their life savings frozen and unable to access their funds. These people have been denied medical help in some instance and I know of several who out of extreme frustration, took their own lives. I myself have lost two family members who passed while waiting for someone to act. Now is the time to step up and make this right for not only those alive but also for those who have passed and their families left behind. I welcome DOGE and its leaders to deep dive into this situation and they will find rampant fraud in our capital markets which allow the front running of trades, spoofing of trades, destruction of small cap companies by saddling them with debt in their attempt to survive etc. Even the delay of S-1 paperwork to prevent that particular company from raising capital. This same company was asked to falsify their paperwork by the "regulator". Is that the way our country will do business now and in the future? I certainly hope not. All we ask is an even playing field. Citadel admitted recently that they paid almost $1B to LOOK ONLY at the trades. Why would they want to see them only to view them? Can't you see there is a problem? The SEC recently stopped attempting to collect right at $10B in fines they say are not collectible. Listed below are my thoughts on what to do if your serious about protecting ALL investors: 1. Eliminate all trades off book ie Dark pool trading! Not one share! 2. Any fine imposed is for the exact amount of profits made by a trader, broker, market maker etc, plus a 50% penalty on top of that. In addition, those who are convicted will have their license suspended for one year on first offense. 3. Enforce the ban on naked shorting with very heavy penalties as stated above. 4 Institute the CAT system without delay as this will show the exact number of shares, who traded them, pricing and if anything illegal was done in any of these trades. 5. If FINRA and the SEC can't honor their commission to transparency of the markets and protect all investors, they should be abolished and another group placed in charge that can do the job. 6. A civilian committee, which actually answers email, letters etc needs to be put in place to field questions from consumers like the 65k families seeking answers to MMTLP freezing of funds. I look forward to watching the hearing live and finally getting an answer to all jy questions. Dan Harris McDonough, Ga.