Next Bridge Hydrocarbons Faces Regulatory Silence Over MMTLP Dispute

On August 7, 2026, Next Bridge Chairman and CEO Greg McCabe wrote to David Woodcock, the newly appointed Director of the SEC's Division of Enforcement, requesting a meeting to present what the company characterizes as evidence of unauthorized share creation by U.S. broker-dealers. The company requested a response by August 14, but that deadline passed without acknowledgment. A subsequent outreach on August 14 to Robert Colby at FINRA, which sought to address the regulatory purview of these broker-dealers, also yielded no response.

McCabe remains critical of the ongoing lack of communication, describing the situation as a systemic failure to address the grievances of tens of thousands of investors. While Next Bridge intends to pursue all available legal avenues, the company maintains that its preference is to find a constructive resolution with regulators. The firm continues to assert that the share imbalances stemming from the FINRA halt represent a serious miscarriage of justice that requires an honest examination of the facts.