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The truth about Keith Gill and his CFA Charter

We have suggested on these pages that Keith Gill, AKA Roaring Kitty, had his CFA Charter withheld when CFA Institute realized that his Gamestop-related activities as Roaring Kitty were not congruent with his job at Massachusetts Mutual Life Insurance Co. 

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We were wrong. Keith Gill did not have his CFA Charter removed. He dumped it before CFA Institute had that pleasure. 

Gill's name does appear not on CFA Institute's list of sanctioned persons. He was, however, a CFA Charterholder between 2015 and at least 2021. 

So what happened? It seems that Gill opted out of the Charter by failing to pay his $299 a year membership fees. In this way, he escaped all sanctions. A spokesperson for CFA Institute tells us: "CFA Institute undertakes investigations and takes disciplinary actions against active members who may have violated our code of conduct and standards. Therefore, no action could be taken in this matter."

It seems that CFA Institute could still come after Gill if he, for example, started putting himself about as a Charterholder having failed to pay the fees. The list of people sanctioned by the Institute includes multiple perpetrators of this offense, alongside a portfolio who left the Series 7 exams to consult exam materials on his phone and who had his Charter permanently revoked as a result, irrespective of the $299 a year.

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AUTHORSarah Butcher Global Editor

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