Institutes of Biomedical Research Corp (MRES)

[Acc441]

Companies like MRES are 'cross-border' entities and investigating such entities requires cooperation between agencies located in multiple countries.


In June of 2010 the SEC and AMF signed a Memorandum of Understanding which strengthened ties between the AMF and SEC.
The MOU set forth a framework which would help protect investors from fraudulent activity through the exchange of information.


Investigations that cross multiple jurisdictions can be time consuming to say the least. Is MRES on the SEC's "radar"? If the SEC has requested access to information in the AMF's possession regarding MRES or ..... if the AMF has offered up the information without the SEC making a formal request then the answer is yes.

Again, remember....investigations which lead to action take TIME.
A PERFECT example of cross-border cooperation between the AMF and SEC is the case established against Dan Ryan and Penny stock chaser.....the AMF initiated an investigation roughly 3 years BEFORE action was taken.

The SEC is understaffed....so with this in mind I can't help but wonder if anyone has taken the time to notify the SEC of the AMF's concerns relating to MRES. A simple complaint to the SEC .. giving the SEC a heads-up should do the trick. Perhaps someone has already asked the SEC to look into the matter--per the MOU signed by Officials from the SEC and AMF on June 10, 2010 ....
if not....someone SHOULD.


hope this helps