In this image from video provided by the House Financial Services Committee, Keith Gill, also known in social media forums as Roaring Kitty, testifies during a virtual hearing on GameStop in Washington, Thursday, Feb. 18, 2021.
The settlement announced Thursday by Secretary of the Commonwealth William Galvin centers on the actions of Keith Gill, who was an employee at a MassMutual subsidiary from April 2019 until January 2021. His tenure ended as GameStop's stock price suddenly soared nearly 800% in a week, as hordes of smaller-pocketed and novice investors piled in, to the shock and awe of professionals.
Massachusetts regulators cited those messages while alleging MassMutual failed to monitor the social-media accounts of Gill and other employees who were registered as broker-dealer agents in the state, and therefore subject to certain supervision requirements. The MassMutual unit where Gill worked prohibits broker-dealer agents from discussing generic securities on social media.
How is that even legal?
Amazing, the fallout when big money loses.
The frenzy where people actually made money.
Right, blame Keith Gill and not the hedge funds. 🤦♂️
This is Wall Street trying to lynch those that caught them recklessly shorting stock. wallstreetbets
Gotta protect those trillionaire hedge fund managers!!
good
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