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Regulation and Compliance > State Regulation > Massachusetts

'Roaring Kitty' Ordered to Testify in Massachusetts

By Melanie Waddell

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William Galvin, Massachusetts’ top securities regulator, has subpoenaed former MassMutual broker Keith Gill to testify about the Reddit GameStop squeeze.

A spokesperson for Galvin’s office confirmed to ThinkAdvisor Thursday that Galvin’s office sent a subpoena to Gill late Monday.

The spokesperson added that “This is a standard review of Mr. Gill’s registration. I don’t have any further information on the investigation right now.”

Gill, known as “Roaring Kitty”  on YouTube, played a key role in the trading frenzy surrounding video game retailer GameStop and other stock the week of Jan. 25.

He is supposed to testify on Feb. 26 before the Securities Division in Boston.

“Galvin has said that MassMutual told his office that had it known about Gill’s online commentary on Gamestop, it would have ordered him to stop,” according to The Boston Globe.

A spokesperson for Galvin confirmed to ThinkAdvisor on Feb. 4 that its “Securities Division sent an inquiry to MassMutual last Friday asking about Mr. Gill’s status.”

MassMutual contacted Galvin’s office on Feb. 1 to inform it that Gill had given his notice to leave the firm on Jan. 21 and his last day at the firm was Jan. 28.

“They also informed us that they had previously denied Mr. Gill’s request to do outside work, when he asked for permission to manage the portfolio of a family friend,” according to the spokesperson.

Galvin’s Securities Division also said it was “looking into whether or not MassMutual should have been aware of Mr. Gill’s activities.”

Melanie Waddell

@Think_MelanieW

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