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2019063058701 NEXT Financial Group, Inc. CRD 46214 AWC rjr (2021-1628900405232).pdf

FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2019063058701 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: NEXT Financial Group, Inc. (Respondent) Member Firm CRD No. 46214 Pursuant to FINRA Rule 9216, Respondent NEXT Financial Group, Inc. submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Curtis Le'Roy Higgins Comment On Regulatory Notice 21-19

I would like to suggest taking power out of your own hands as self regulators. SROs are inherently corrupt and there is no way around apply a significant punishment to you pursuing your personal interests if it also you to police yourselves. Seems to me as thought Pharmaceutical industries are not the FDA, and you are supposed to be the ones protecting yourselves from stealing the money you are put in charge of. This ends.

Younes Comment On Regulatory Notice 21-19

1. Enforcement should be as immediate as possible. 2. Transparency : Give detailed numbers, company names and extended information on your investigation. 3. Bigger fines. Let's be real. The fines you're giving are symbolic. What's even the point exactly? 4. Kinda unrelated but maybe the best way to enforce those ruled is for finra to cease to exist? And be replaced by a public entity financed by the people for the people.

Anonymous-DM Comment On Regulatory Notice 21-19

All of that should already be in place. Synthetic shorts are an illegal practice anyways, so reporting them would just oust the form doing them thus implicating them in a crime. But yes they should be reported; As the amount of synthetic shares could and most like does in fact dwarf the actual share count of a particular stock if the hedge funds are trying to bankrupt them. Examples being currently gamestop and amc, and toys’r’us from the past. The entirety of Wall Street should be indicted for massive malpractice.

Matthew Yeatter Comment On Regulatory Notice 21-19

Request more transparency. Retail investors should have visibility on all exchanges and they should be immediate. Current technology makes this possible. T+2 system is a relic of an antiquated system. The current system architecture puts all the advantage to large firms that have access to information that is either restricted or delayed to the retail investor. This obviously creates an un-level playing field. The SEC needs to take aggressive action on “naked shorting” and other illegal stock market manipulations. Current actions are extremely slow (ie take years to investigate and try).

Tharry Garland Comment On Regulatory Notice 21-19

Anytime reported shorting goes from a high percentage to a lower one without any sign of short squeezing and the price of a stock continues to drop, should immediately trip a signal to report for investigation. For instance, when AMC was showing a reported shorting percentage of over 18% on July 6th and then today, the 13th, the stock drops drastically and shows it’s now 15% shorted from borrowed shares. But now short squeezing alerts were triggered, and no signs of a huge sell off. Even Ortex said this is unusual!