Digital Brand Media and Marketing Group Inc (DBMM)

[BartDaddy]

Foelak thinks that’ it’s just fine

Foelak neither said nor indicated any such thing. She clearly indicated it was not "just fine". She said, based on the facts at hand, neither remedy, suspension or revocation, was appropriate.

The SEC is trying to punish them

Nowhere in the SEC's mission statement does it say they are there to "punish" entities which, at some point in time, had a lapse in compliance. They are there to ensure compliance with the rules that support their mission. DBMM is compliant with those rules.

After 2 years of fully compliant filings from DBMM, shareholders have all relevant information at their disposal to make informed decisions.

Foelak noted, correctly, that any perceived deficiencies in prior filings are no longer material. Therefore, their remediation is not required in order to protect shareholders. Neither suspension nor revocation is appropriate.

Another part of SEC's mission is to maintain orderly markets. Either suspension or revocation, while sometimes necessary, would be disruptive to the market.

It is possible for the commission to agree with both Enforcement, i.e., DBMM deserves a sanction for its past noncompliance, and with Foelak, i.e., neither suspension nor revocation is the appropriate sanction now. They may come up with different sanction. They could send the message that they recognize the effort to correct errant ways of the past but that recognition does not bring with it absolution.

Would that satisfy those who insist on a pound of flesh?

My opinions only.