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They will make one phone call to the CEO saying they are opening an investigation that Reddit is facilitating and unlicensed forum for providing investment advi
by koheripbal 6y ago
They will make one phone call to the CEO saying they are opening an investigation that Reddit is facilitating and unlicensed forum for providing investment advice, and that to limit potential liability, the SEC is recommending that Reddit close the sub in question.
Reddit's one lawyer will sit with the CEO, and they will have a 4 second conversation "Yeah, we're not sticking our neck out for those self-proclaimed retards.".
...and that's it. Reddit has banned subs for far far less.
- frays 6y agoAlthough this may have been a simple explanation for you, it brought a lot of insight for me. Thank you.
- tester34 6y agothere are 4.3 milion of those "self-proclaimed retards" Do you think they'd try to gamble 2-4 milions users?
- imgabe 6y agoThere is no licensing requirement to run a forum. Any person is free to offer their opinions about stocks.