FINRA Arvostelua 50

FINRA turns a blind eye to rampant and illegal naked short selling by hedge funds and will happily step into to halt a stock if they have to close there positions. The board of FINRA belong in jail. #MMTLP #FINRAFRAUD

Around October of 2021, 2 market makers allegedly created a market for the Series A Preferred shares (Dividend) $MMTLP. **I would like to add to this complaint a potential conflict of interest regarding Ari Rubenstein who is on the board of FINRA and the co-founder of GTS. This is clearly going against Finra’s mission statement of “dedicated to protecting investors and safeguarding market integrity in a manner that facilitates vibrant capital markets”.** Please look into this as a matter or utmost urgency as the livelihood of hard working US taxpayers and overseas traders is at very serious risk.

These preferred series A shares became tradeable on the OTC against the wishes of the company and suddenly appeared in brokerage accounts with a cash value around fifty cents. It was later discovered that these shares could be bought through a small handful of brokerages but listed as "Sell Only" in other brokerages. Investors then in good faith purchased shares of MMTLP, in hopes of

(a.) Receiving shares through a spin off into Next Bridge Hydrocarbons

(b.) Trading the share with the expectation of being able to buy more and also sell for profit like any other share on the OTC.

(c.) Both.

On 11/22/2022, shares of MMTLP reached an all time high of $12.50.

These shares (MMTLP) were soon to become shares of Next Bridge Hydrocarbons expected to be a private company.

Metamaterials provided the Securities and Exchange Commission (SEC) with a S1 filing on 7/15/2022 and after a few minor revisions, the filing was approved on 11/18/2022. The filing was approved by the SEC and the DTCC. FINRA was then tasked with implementing the spinoff and providing brokerages with Corporate Notices. Per the Metamaterials filings, the last day to purchase MMTLP was to be 12/08/2022 to receive shares of Next Bridge Hydrocarbons. Purchase orders WOULD BE ALLOWED until 4pm EST 12/12/2022 but buyers would not receive shares of Next Bridge Hydrocarbons if purchased after 12/08/2022. On 12/14/2022, MMTLP would cease to exist and eligible shareholders would now own shares of the PRIVATE company (Next Bridge Hydrocarbons). On or around 11/18/2022, the S1A was approved by the SEC and on 11/18/2022 Form S3 was uploaded to the SEC website with a "Notice of Effectiveness".

A revision to Metamaterials filing(s) was rolled out by FINRA and trading of MMTLP was HALTED (Code U3) on 12/08/2022 which was prior to the 12/12/2022 date. Brokerages have still not been provided their Corporate Notices.

**For the final part of my complaint, I would like all investors including myself to benefit from a free and fair market. You can abide by your mission statement by allowing the preferred share to complete 2 more days of trading, compel all shorts to close their positions, ensure brokers liquidate for them if they do not close and ask brokers to deal with the matter of millions of synthetic shares so only genuine retail investors of $MMTLP get their entitlement to Next Bridge.**

#FinraFraud. Mmtlp. U3/ Halt. Why? Wtffff.

FINRA suddenly with no explanation halted trading for ticker MMTLP until after its deletion date. With no ability to sell shares investors have been prevented from realizing profit and have incurred heavy losses due to naked shorting and illegal shot ladder attacks.

Bunch of crooks and HFs owners on the board. The way they screwed retail investors on MMTLP is so wrong on all levels. FINRA existence is to protect the rich HFs and MMs and SEC does nothing about it.

FINRA is a completely dishonest organization that presents itself as ethical & pro-consumer. It is the exact opposite & I am basing this on my personal experience. Firstly, FINRA gives the impression that a consumer using them in arbitration against a big corporation is a great way to go because the consumer won't receive the same BS and legalese as in court. WRONG! FINRA is in the pockets of the big corporations. Firstly, I am pretty sure that the member corporations pay annual fees (probably a fat fee) to participate in FINRA. What does that tell you about who FINRA is likely to support? This is similar to LA Bar Assn, another joke for an institution to which someone can file a complaint against a member atty. These attorneys pay annual fees to this association. Both FINRA and LA Bar Assn protect a consumer only if a member has gone WAY OUTSIDE of acceptable behavior (which is not how decent, moral, conscionable people operate). Now, let’s face it, arbitration should be such that intelligent persons can argue their cases in front of a panel (who don’t have to be attys). In my experience, intelligent persons can outargue most attys. Problem is that the law has made it so complex with BS games, that in a court setting you NEED an atty. But for arbitration it shouldn’t be so even if you are arguing against an atty representing a big corporation. So I filed a complaint on my own against a couple big insurance companies that collaborated to screw me. I elected to have 3 arbitrators and was presented by FINRA with a bunch to choose from. But all they do is give the background of these arbitrators, who are overwhelmingly attys. Though FINRA claimed that I could research how these arbitrators ruled on cases, believe me, it was soooo difficult that I ended up going with my gut which was way off. Then, once I became aware that my complaint was like I was in court, I sought the help of one of the attorneys that are found on a website of attorneys who consumers can use in a FINRA arbitration case. One attorney told me that I had a great case, but because I filed on my own at first, he refused to take my case. Can you believe that s__t? Then another one said the same thing but said he would help me out by giving me advice. He told me that the lead arbitrator of the 3 was the WORST one I could have chosen, since that guy is pretty much in the pockets of big companies, and that the lead arbitrator usually tells the other 2 how s/he will rule and the other 2 tend to go along. So he recommended I go for mediation rather than to “trial”.Of the mediators presented to me by FINRA, this attorney suggested a particular name, a guy he knew is fair. WRONG! That guy turned out to be sleezy, and admitted to me that the attorney who is “helping” me had spoken with him, something that was clearly unethical. I am now convinced that these 2 attorneys agreed behind my back that the mediating attorney should just get me to settle at all costs. During the mediation, this attorney told me that the lead arbitrator had a record that was so favorable to corporations that I was sure to lose if I refused to settle at mediation and insisted on going onto arbitration. I ended up settling at mediation, a decision I regret, but realized that the FINRA process is set in favor of the corporations. What the “helpful” attorney told me that most arbitrators rule in favor of corporations because those who don’t will not be selected in future by corporations that they rule against. You the consumer will likely only get involved with FINRA once, while these corporations will likely show up many times with different consumers. These unethical arbitrators (mostl who make a fat living pretending to be fair and just is a fool to rule in favor of a consumer unless the corporation has literally stolen money from the consumer. Of course thOtherwise they will be blacklisted and FINRA will do NOTHING about it! IF FINRA WAS REALLY HELPING CONSUMERS THEY WOULD CHOOSE THE THREE ARBITRATORS (i.e. each arbitrator’s name will come up on a rotating basis) SO THAT THE CORPORATION HAS NO CHOICE.Fact is that the corporate attys KNOW the arbitrators and KNOW OF their tendencies, while the consumer does not. This is why the consumer is encouraged to pay a fat fee to a ‘FINRA attorney’ to represent them, because guess what? The ‘FINRA attys KNOW the arbitrators & most of the sleezy attys representing big sleezy corporations (insurance corporations are low on the food chain).So they to settle the complaint as quickly as possible, where the consumer is the pawn.The consumer will likely get some settlement because the ‘FINRA attorney’ has to get paid, but the consumer will not get anywhere what they hoped (and most likely deserved) to get. FINRA pretends to do forthright but is run by their member corporations & the sleezy attys who represent them.

FINRA does not investigate financial representatives and companies after allegations of fraud are presented. They have allowed companies and persons to continue operating after credible accusations and multiple law suits and decades of complaints. While it sounds exaggerated to say the industry is unregulated, they have allowed companies to operate after losing millions of client funds. Clients have no resources to litigate upon discovering huge losses to their retirement. Many clients have lost half of their savings 10 years before they were set to retire. Trust people but hold them to account. Ignore charm and aesthetics. Choose an advisor after interviewing at least three diverse candidates. And always consult an attorney. Always read documents clearly, take notes and understand that once you sign, your advisor holds all the cards.

FINRA SOCETA^SOSPETTA TRUFFA. IL FATTO; SONO GAMBUTI MARIO DI RIMINI. NEL MESE DI MARZO 2021 SONO STATO CONTATTATO DA UN CONSULENTE DELL.AZIENDA FINRA ,MI PROPONEVA DI APRIRE UN CONTO TRADING. DOPO AVERE MATURATO 50.000 EURO, MI PROPONEVA DI RITIRARE LA SOMMA SUL MIO CONTO CHIEDENDOMI DELLE COMMISSIONI. HO PAGATO LE COMMISSIONI RICHIESTE ,ERA TUTTO FALSO IL CONSULENTE E SPARITO...HO PROVATO A CONTATTARE LA FINRA ,SENZA SUCCESSO ..HO FATTO DENUNCIA TRAMITE LE AUTORITA COMPETENTI
. MA NON HO RICEVUTO NESSUNA RISPOSTA DA PARTE DELLA SOCETA^ FINRA INTERESSATA ALLA TRUFFA CHE HO SUBITO..
IL MIO RECAPITO.CC.3409112027

FINRA is so cooperative and extremely professional and helpful!
Thank God for having FINRA
I pray FINRA to put the eye more closely to Robin-hook every time they try to renew their LICENSE!