DrewDiligence@KarmaCollects
$MMTLP What a crock of BS. The SEC Just Greenlit the DELETION of ALL Consolidated Audit Trail (CAT) Data Older Than 3 Years
For years, MMTLP shareholders have been demanding access to historical CAT data to expose what we believe was systemic naked shorting, illegal order flow, and market manipulation that wiped out billions in retail value when our shares were forcibly converted/delisted. We’ve been stonewalled at every turn. FOIAs ignored. Congression inquiries ignored. Brokers hiding behind “proprietary” excuses. Now the SEC just handed Wall Street the ultimate get-out-of-jail-free card.
From this press release (March 27, 2026):
“delete certain CAT data, including all CAT data older than three years”
This isn’t “cost savings.” This is legalized destruction of EVIDENCE. The very records that could finally prove our case, or the the SEC could use to DISPROVE US if they are so sure we are wrong - pre-2023 trade data, lifecycle linkages, late-reported trades... are all about to be permanently erased. And @SECPaulSAtkins calls this “progress"?
Well I'm CALLING IT A COVER UP. You are allowing the CAT Plan Participants to purge the data now, and once it’s gone, it’s gone forever. And that, to MMTLP investors, equates to nothing short of Justice denied.
Not legal advice at all, but I wish @JWesChristian would consider filing an emergency injunction RIGHT NOW in U.S. District Court for the District of Columbia (where the SEC is headquartered). This injunction would include a Temporary Restraining Order + Preliminary Injunction against the SEC and the CAT NMS Plan Participants.
Unless I'm wrong, I believe the Administrative Procedure Act could allow one to argue that the rule is “arbitrary and capricious,” violates investor-protection mandates under the Exchange Act, and destroys evidence critical to ongoing private actions and investigations. To be honest, this is right up Wes' alley, and it wouldn't be out of line for him to do so considering that he is special counsel in a bankruptcy proceeding where this data could come into play.
This causes irreparable harm to MMTLP (and other retail) investors who have relied on CAT data for years and there is no adequate remedy at the level of the law once this extremely important data is deleted. Public interest in preserving market transparency as it relates to MMTLP and MMAT (given the ongoing bankruptcy proceeding) outweighs “cost savings” for billion-dollar brokers, when right now this second, that information is EASILY ATTAINABLE.
To be honest, every single affected ticker (every retail victim of old short-selling schemes just got screwed too) should be fighting this. This is not just an MMTLP issue. If they can erase the tape on us, they can erase it on anyone.
We’ve waited years for this information as we've been told time and time again that "there is no problem" without being supplied a single shred of data to back that up. And now, they literally want to burn the very same data? At the very minimum, the CAT data for MMAT, TRCH, and MMTLP should be preserved. Shame on every single entity that lobbied with their money and power in favor of this absolute abomination. This is an affront to the principles at the core of operating a free and fair market.
They should NOT be allowed to delete a SINGLE piece of information that is pertinent to ongoing matters involving theft from the investing public... and this shit is insane.
