BOSTON (Reuters) – A MassMutual subsidiary has agreed to pay a $4 million fine to resolve allegations it failed to supervise agents including the social media persona “Roaring Kitty,” whose online posts helped spark January’s trading frenzy in GameStop Corp shares, Massachusetts securities regulators said on Thursday.
Massachusetts Secretary of the Commonwealth William Galvin, the state’s top securities regulator, said the subsidiary, MML Investors Services, had also agreed to overhaul its social media policies and undergo an independent compliance review.
(Reporting by Nate Raymond in Boston)
