No idea what to flair this as, so I'm going with Discussion for now. If I need to change it, I will.

I've posted about local/state regulators before, partly because I've been talking with mine since Jan about all the manipulation with GME. But mostly, I've posted about them because I know a state regulator personally. (Mods, feel free to ask for proof if you need it. I don't mind sharing with mods, but he has asked me to keep our relationship private for anonymity purposes)

I'm on vacation and had a chance to talk a bit with my contact there and, of course, we started in on GME. I brought up the usual things, market manipulation, giant crash coming, etc. Then RH and their shenanigans came up. He said it's really weird because he can't find anything out from his contacts at the SEC. I obviously asked what that meant cuz it seemed a little sketch to me. He said it's not super unusual when they're working on bigger and more serious cases.

I don't know what it is, but they're working on a massive investigation into January's shitshow. The reason we won't hear anything is the same reason you don't hear about police investigations; they can't talk about them until they're finished investigating.

Don't get me wrong, I love the memes shitting on them as much as anyone, but I actually am a little more optimistic about them doing their job and I'm positive that GME was the catalyst for this.

I also pitched the idea of Ryan Cohen working directly with them (especially since he was in their neighborhood a couple months ago) and he said that is absolutely what has to be going on.

Edit: Thanks to u/lionbernd1 for linking this post from u/nmorngan81234 about a denied FOIA request