Replies to post #208155 on DD Support Board and Research Team

[1manband]

Yes, that is true.

FINRA is, of course, an SRO. They have often been criticized by their members of being too heavy handed with their enforcement, and FINRA has been saying for a few years that they don't want to put any of their broker members out of business.

And that is the problem. They NEED to put the bad actors out of business. But the process is so long and drawn out that even when they have such a flagrant and blatant crooked member, it takes years to do anything about it, and even then it is usually left up to the SEC or the courts to do the actual dirty work (i.e., Alpine).

Hopefully the SEC and/or the Treasury Department will lose patience with the process, especially because so many of these brokers that have been slapped for their AML issues (which is what the penny stock dumping ultimately comes down to) are not only repeat offenders, but constant offenders. They never stop.

They are now taking that tack with the Crypto markets, and they need to do the same with the OTC stock market.

[12yearplan]

There you go, you just quoted Wes there; cost of doing business thingy. Wes said for 21 years that about the same amount of fines had been levied from theirs/others investigations with highest one $900,000,000 fine. Sounds high but apparently not for the years of gaming the system.

Yes, the fines FINRA levies are often so small it seems likely the perps simply consider them the cost of doing business.