It is highly doubtful FINRA is conducting any sort of investigation. Investigations take resources and money, if the SEC is already doing their job, then it would be redundant. FINRA has a pretty open mandate, I suggest you check their website. [Edited because I am out of replies, FINRA contacted Hall and RBII to get information, which is different from a formal investigation. There are excerpts in the SEC filing, and it is clear that FINRA is involved. FINRA investigation usually means a separate FINRA matter. That being said, we do not know what they are doing on their end.] I get it, I probably now sound like an idiot, but the SEC has the lead on this which is my point.
But a brief summary below:
FINRA is a private organization that acts in the regulation and enforcement of the operation of almost all brokerages and markets. They regularly provide information on the trading activities to investigators and also set rules to play. FINRA licenses individuals to comply with the rules and is sanctioned by the SEC to discipline firms that breach these rules. If you have been reading along, RBII is required to submit additional paperwork to show that the company is in Compliance. FINRA acts kind of like a "CAPTCHA" for tickers to check the boxes to become listed. (CAPTCHA being like a "click all the boxes that are traffic lights" to show you are human when signing into your email account to prove you're human.)
Overall, I do not want to confuse anyone here because none of us know what is going on behind the scenes. The plain reading of all the SEC papers shows that they are only having issues with the marketing RBII issued. RBII has terrible financials before getting into COVID. Two things any investor should take into account (1) RBII may not make any statements during the investigation because their attorney is going to tell them to stay quiet, or (2) we may not hear anything because it is bad news. There is simply no way to tell, the company looks like it is making money, let's home next quarter is better.
Wish I had more time to devote to this, but overall you guys are hillarious. Longs and the shorts. I appreciate you guys, and happy hunting.