Replies to post #29248 on Calissio Resources Group Inc (CRGP)

[gitreal]

It is not FINRA's job to verify the existence of mines. And as long as the OTC market exists with its thousands of concurrent scams, the SEC could not possibly begin to investigate even a fraction of them. Yes, it is nice to think of the Feds as John Wayne, but how many John Waynes does it take to slap down these gangs of organized con-men?

In the meantime, it takes amateur sleuths to figure out the connections and schemes going on here. And it takes enough angry investors to file complaints to get "John Wayne" to start poking around.

[janice shell]

The problematic nature of the Pinks isn't really the fault of the SEC or FINRA. If you want to blame someone, blame Congress. They're the ones who like to imagine these companies are vibrant small businesses, the backbone of our nation's economy. Because of that, they believe, Pinks shouldn't have to bear complicated and expensive regulatory burdens.

I'm sure they have no idea what really goes on down here. And they don't want to listen. When they were debating the Crowdfunding part of the JOBS Act, Mary Schapiro, then chair of the SEC, tried to explain why it was a bad idea, but they weren't having any of that. The SEC is still dragging its feet on making Reg Crowdfunding effective, and Congress recently expressed its displeasure about that.

I agree with you. If a company wants to be public, it should have to be an SEC registrant, and be required to make periodic filings. Had there been an audit requirement for CRGP, red flags would have caught the SEC's attention long ago.