nw,
the state division of finance and securities, where i filed my complaint
Sadly, here's the problem with each individual state securities office: they only have jurisdiction over the actions that happen within the state.
Meaning, TDAmeritade (in Nebraska) does not fall within State Securities jurisdiction unless you just happen to be a resident of Nebraska.
Here in Massachusetts, my State Office of Securities branch has no jurisdiction over my online broker. Now, if I had walked into an actual local broker and bought, that's another story.
Grassley's office has the ability to ask some tough questions and demand direct answers. However, in the end, he actually does not have jurisdiction to launch a legal investigation.
Been there, done that with my Congressman's office on another stock 7 years ago.
the fact that the sale of naked shares by brokerages happened, doesnt matter to them
Correct, because it's a civil legal issue between the company defrauded and the person or people who committed the fraud. Your State Securities Office cannot step into a personal civil issue between an out-of-state corporation and out-of-state thieves like Pino (Arizona).
do you think any of them might want a job in the securities industry so they might not want to step on any potential career opportunities...
Or..the state statutes where you reside renders your state office powerless to proceed with an out-of-state issue.
Again, been there before. Busted a scam in Pennsylvania and my State of Mass office was powerless to prosecute or help me obtain restitution.
