MMTLP was a dividend from a Stock that traded on NASDAQ, MMTLP was never supposed to trade especially not on the OTC Market, but FINRA allowed it against the issuer's wishes. (image 1)
When the issuer attempted to have all MMTLP shares spun-off into shares of a non-tradeable company (as originally intended). FINRA overstepped their authority, working with the SEC and the DTCC, they changed the Corporate Action (the Market instructions for the spin-off). (images 2 & 3)
FINRA used these changes to suggest that they discovered an issue that required a U3 halt to protect investors, but in reality the halt only protected short selling institutions that had too many obligations that would've been forcibly reconciled if FINRA didn't halt trading.
While FINRA claims they've been transparent in their March 2023 & November 2023 the FAQs concerning the MMTLP Halt and Corporate Action, every new piece of evidence obtained by FOIA continues to reveal that FINRA's actions protected their broker-dealers that stood to lose financially if brokerages were able to continue in the way they planned, if FINRA didn't U3 halt trading. (image 4)