Good afternoon, fellow apes!

I tend to be more of a lurker, but after the AMA, I decided I actually know me some stuff about some shit so I might as well share.

A little background for you:

The SEC, being a bigger federal-level organization, is slow moving and bogged down in red tape. (I'm not gonna get into the possible conflicts of interest or corruption because it honestly isn't relevant to my point.) Because of this, the states decided to stand up their own Securities Commissions that focus on registration, fraud, etc. at the state level. They tend to be more compact (smaller just isn't the right word) and more agile, able to directly address problems within the state. For example, when a certain douchebag wolf decided to steal shittons of money, the states led the charge in the investigation because they could attack it from an individual investor's point of view. They aren't under the SEC, reporting directly to the state, but they do tend to share info and can help direct possible policy changes.

I personally know an investigator and some of the leadership at one of the State Securities Commissions (can provide proof to mods if need be). At least their office has been super interesting in learning and delving into all of this. I actually have been sending them a bunch of DD (and a few memes) all while trying not to sound like a crazy person talking them through the situation. I'm sure other states are looking into this kind of stuff too and I know for a fact they've sent some of the god-tier DD (especially the u/atobitt master works) to some of their counterparts and allegedly to contacts at the SEC. Whether that means anything or not is still to be seen, but at least the word is starting to get out.

I highly recommend you follow Dr. T's advice and go to www.nasaa.org and use their links/contact info to get ahold of your state commission. The more they are informed about this and the more pressure we apply, the better the chances of something actually changing on the regulators side of things.

TL;DR: Call your State Securities Commission and bring all of this shit up to them. They can do more specific things than the SEC and can even pressure the SEC to make actual changes.

Edit: Thanks for the awards, everyone! If there's interest, I can probly do a bigger write up on NASAA and the State Securities Commissions. Like I said, I know someone who works there so I can get legit info about what they do. I obviously wouldn't be able to get anything about open cases or anything, but yeah

Edit 2: I did a bigger write up on NASAA and the Commissions if you're interested https://www.reddit.com/r/Superstonk/comments/n2mxo9/nasaa_and_your_states_securities_commission/?utm_medium=android_app&utm_source=share