ChainCatcher reported that 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 spokesman for Bill Galvin, head of the state's top securities regulator, confirmed that Gill's activities were being investigated but declined to comment further.
Regulatory investigations do not usually indicate violations and do not result in enforcement actions. Galvin investigated Gill’s 2021 activities, but the case was closed after a settlement with Gill’s former employer, MassMutual, for improper supervision. Screenshots of GameStop transactions on Reddit sparked a “net stock” craze, but the U.S. Securities and Exchange Commission (SEC) found that the market system was operating well after an investigation and found no evidence that short sellers were driving the craze.
Earlier news, according to Cailianshe, the U.S. Securities and Exchange Commission (SEC) is reviewing some transactions of Gamestop call options. The SEC is reviewing transactions before and after Keith Gill’s social media posts.
