The Massachusetts securities regulator is investigating Keith Gill's GameStop trading activities

2024-06-05 09:37:50

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ChainCatcher news, according to Reuters, the Massachusetts securities regulator is investigating the trading activities of GameStop (GME.N) and the trading activities of well-known investor Keith Gill. A spokesperson for the state's top securities regulator, Bill Galvin, confirmed that Gill's activities are under investigation but declined to comment further.

Regulatory investigations do not typically indicate wrongdoing and do not lead to enforcement actions. Galvin previously investigated Gill's activities in 2021 but closed the case after reaching a settlement with Gill's former employer, MassMutual, over supervisory issues. Screenshots of trading on Reddit related to GameStop sparked a "meme stock" craze, but the U.S. Securities and Exchange Commission (SEC) found no evidence that short sellers were driving the frenzy after investigating and concluded that the market system was functioning well.

Previous news, according to Caixin, the SEC is reviewing certain trades of GameStop call options, and the SEC is examining trades before and after Keith Gill's social media posts.

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