So exactly how many years does it take to review an 8 page decision??
This isn't a J6 review board...
"The commission has not YET found a legal mis-step by the ALJ. But one of the "ISSUES" to be reviewed is exactly that - did the ALJ find that DBMM was current - IN SPITE OF Corp FIn's continued belief to the opposite?"
The review for legality is a formality at best here. She fully agreed to DBMM being delinquent in filling. I never saw on paper it ever said different. In fact, DBMM counsel was in agreement as well, that was never a question. Only thing under discussion was what caused it. Now, whether I or anyone else thinks that is a reasonable excuse, doesn't matter, because the ALJ did. She did so knowing the argument that would ensue as well. So seems highly unlikely the decision would be made lightly. In addition, DOE has no legal position here. They are strictly there to enforce regulations but that stops at reporting the infraction. ALJ and commission decide punitive action. This is also why the system is designed that way.
Frankly, there are plenty of bad actors in regards to reporting, that are far worse than DBMM was. So that would have to be defended in a court setting as well.
"The Commssion has NOTHING TO DO with the decision of the OTCM to remove the CE and allow DBMM to trade. It is COMPLETELY on the OTCM's shoulders!"
I certainly didn't question that anywhere. OTCM is regulated by the SEC but legally the initial decision stands until otherwise rescinded. As I said, DOE can only recommend action. The decision is the only legal order OTCM has available.
But the commission does have the responsibility to review decisions in a timely matter. Had this been done, OTCM would be a mute point. Instead, lack of action has lead to this outcome.
I believe your argument that DBMM was delinquent and by that single fault deserves revocation, is accurate regarding a literal interpretation of the rule. I also agree that is generally how it works DOE recommends and ALJ concurs. The position holds water right up until the ALJ decides not to concur...
Now if the Commission modifies the order that anyway negatively affects shareholders or DBMM, it can be subject to appeal in a court of law. An example of that was presented in my previous post. In addition, OTCM will continue on as they are using the only legal order there is, of dismissal. As anything the Commission decides will be halted pending appeal.
Obviously, at some point it could possibly be decided against DBMM. But, by that time, as long as they stay clean, SEC will have no choice but to allow them to continue or face harming shareholders for no practical reason.
I would bet DBMM gets bought out by Google before that happens...
