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Monday, June 05, 2023 10:12:45 AM
On Friday, June 2, 2023, the SEC issued an Order entitled “Order Dismissing Proceedings” as Release No. 4413, advising 42 companies that their pending Administrative Proceedings had been Dismissed.
Evidence of corruption and mismanagement in the SEC Department of Enforcement!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=172053011
SEC PRESS RELEASE
NewMediaWire –NEW YORK, NY, June 05, 2023 (GLOBE NEWSWIRE) -- via Digital Brand Media & Marketing Group Inc. (OTC Pink: DBMM): In summary, the enforcement and in-house ruling arms of the SEC are supposed to be kept completely separate from each other regarding such matters. The “Chinese Wall” between adjudication and enforcement is a sacrosanct tenet of the SEC and of internal control policy.
After concluding that the enforcement staff had improper access to materials meant for the commission officials ruling on those cases, all cases affected were Dismissed “to preserve the Commission’s resources.”
The review was initiated by the Chair of the Commission under the supervision of the Commission’s General Counsel (the “review team” / ”OGC”). The review team has been supported by Berkeley Research Group, LLC, a consulting firm retained by OGC that includes a team of experienced investigators and forensic analysts.
Since the Initial Decision Dismissal on November 12, 2019, by ALJ Carol Fox Foelak, it had remained the Standing Order, until the SEC announcement which superseded and Dismissed the AP as a Final Order. The action affected 42 companies, including DBMM.
DBMM Press Release
https://www.globenewswire.com/news-release/2023/06/05/2682079/0/en/SEC-Issues-Order-Dismissing-Pending-Administrative-Proceedings-for-42-Companies-Including-DBMM-Group-Inc.html#:~:text=On%20Friday%2C%20June%202%2C%202023,Brand%20Media%20%26%20Marketing%20Group%20Inc
Links to SEC website for initial decision
https://www.sec.gov/litigation/apdocuments/ap-3-17990.xml
https://www.sec.gov/litigation/opinions/2023/33-11198.pdf
GLTA DBMM 2.0!
Cheers, Red
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