Finra violations aren’t criminal I don’t believe.
Roaring Kitty
- Thread starter syswizard
- Start date
CFA is not a license.
It is not issued by a government agency. It is a credential issued by a nonprofit organization.
It can be revoked by the organization if the person is found to have violated their code of ethics. But it is not a license.
A transcript of part of Roaring Kitty's testimony before the US House of Representatives was just posted in another thread. He states that he was not "advising people for a living." He claims that his job at MassMutual was to develop educational programs for their customers, and that his job title was "Financial Wellness Educator." That may sound like he was giving advice, but it is simply not the same as actually selling securities or recommending the purchase of specific investments.
Unless he is flat-out lying or deliberately omitting highly relevant facts, it appears that Roaring Kitty was not a registered representative, i.e., he does not have a Series 7 license from FINRA, or any other type of license, nor is he registered as an investment advisor with the SEC.
The CFA is a credential that is kind of like a college degree. It's not a perfect analogy. But the concept here is that you can graduate from law school with a juris doctor degree, but never actually pass the bar exam, and never become an attorney licensed to practice law. You can graduate with a four-year degree in accounting, but never pass the exam to become a CPA. You can get a PhD in clinical psychology, but never pass the board exam and never become licensed to practice. The CFA is not a license.
BMK
CFA is not a license. It's a designation. And it has to be used as an adjective and can never be used as a noun because it's a service mark. Roaring Kitty is never a CFA; he is a CFA Charterholder.
Thank you for that clarification.
On this forum always shoot first - facts are irrelevant. There was also a fairly detailed Boston Post article the weekend before last and they did some reverse engineering of his alleged trades. Put his gains estimate at 8 figures, so I would expect to see some real pricey legal talent and I would IMHO expect to see FINRA forward it to the District Court.
If you have a subscription - otherwise it is paywalled.
If you have a subscription - otherwise it is paywalled.
anyone that sues this guy is a fucking douchebag.
“The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices.”
This retard just made a bad trade and got squeezed now he’s crying about it. Who in their right mind would short calls on a stock with that much momentum...I can see and did buy puts that eventually made money but short calls on GME at that time is plain fucking retarded.
“The would-be plaintiff representing investors in the case, Christian Iovin of Washington state, sold $200,000 worth of call options on GameStop shares when the stock was below $100. The stock quickly eclipsed $400 a share, forcing him to buy the calls back at elevated prices.”
This retard just made a bad trade and got squeezed now he’s crying about it. Who in their right mind would short calls on a stock with that much momentum...I can see and did buy puts that eventually made money but short calls on GME at that time is plain fucking retarded.
Why are you condemning this guy so hard?
When people shorted AAPL after Mike Dells comments could he be sued? https://www.google.com/amp/s/www.cu...-says-hed-shut-apple-refund-shareholders/amp/