The SEC's suspension powers cover only 2 reasons. The first is for delinquent SEC filers. PGPM was not an SEC registrant and had no SEC filing obligations. So it was not for that reason.
The second is for non-compliance with Federal securities laws. In other words, FRAUD.
PGPM WAS suspended for fraud. And at least some of the reasons are quite obvious, with the first being the fraudulent property valuation. The valuation numbers are completely bogus.
They also lied about their oil and gas production (which was actually ZERO), and funding. All fraudulent.
Read the SEC order - the SEC is very clear what specific fraudulent claims PGPM had been making and why the stock was suspended.
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