Roaring Kitty to testify on GameStop alongside hedge fund managers

Re:Roaring Kitty to testify on GameStop alongside hedge fund... by nbar on Sunday February 14, 2021 @03:13AM (#26130535)

What did Gill do that was illegal?

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by novia on Sunday February 14, 2021 @09:34AM (#26132701)

https://www.nytimes.com/2021/02/03/business/roaring-kitty-ga...

He was a securities broker registered with FINRA. FINRA representatives have a whole lot of regulations placed on them.

To me, the main things he did wrong were, not disclosing that he is a securities professional on his channel (as opposed to just, some guy), and not disclosing his youtube channel to his employer.

> MassMutual, officially known as Massachusetts Mutual Life Insurance Company, also informed regulators that Mr. Gill gave his notice on Jan. 21 but was technically still an employee of the firm and its securities and investment advisory arm, MML Investors Services, through Jan. 28 — the week when GameStop shares surged the most.

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by dagmx on Sunday February 14, 2021 @03:40AM (#26130649)

This doesn't imply that he did anything illegal. It's standard in hearings to get any/all prominent people/corporations involved to testify to paint a clearer picture for law makers to then potentially act on. It's more research than anything.

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by valuearb on Sunday February 14, 2021 @12:02PM (#26133940)

He clearly violated his professional obligations, but congress doesn’t prosecute anyone, Massachusetts will if anyone does.

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by dagmx on Sunday February 14, 2021 @12:08PM (#26133990)

Yes, personally I think he's in for some trouble with MA, but I was speaking to the congressional hearings which, like you said, aren't a prosecution.

I do think he purposefully downplayed his financial history in an aim to drive up hype, and as you stated, violated his professional obligations. At best, he walked a very thin line which will be scrutinized. At worst he broke the law and will face charges, and WSB will add a new chapter to their lore either way.

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by paul_f on Monday February 15, 2021 @05:41AM (#26141377)

what professional obligations specifically?

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Re:Roaring Kitty to testify on GameStop alongside hedge fund... by valuearb on Monday February 15, 2021 @09:05AM (#26142848)

He’s a licensed broker carrying five license, working for a licensed brokerage. They aren’t allowed to make public investment recommendations.

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