FinTwit Set To Lose Some Of Its Most Prominent Voices Due To Loss Of Anonymity | Zero Hedge
Description: Financial twitter is set to lose some of its more prominent "anonymous" voices in just a few days. The reason: in a decision that has passed largely under the radar, beginning in 2018, the SEC will require registered investment advisors to disclose any anonymous social media accounts.

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# FinTwit Set To Lose Some Of Its Most Prominent Voices Due To Loss Of Anonymity

Financial twitter is set to lose some of its more prominent "anonymous" voices in just a few days. The reason: in a decision that has passed largely under the radar, beginning in 2018, the SEC will require registered investment advisors - i.e. carbon-based asset managers, hedge funders and so on, to disclose any anonymous social media accounts, on their Form ADV.

This goes back to a recently filed amendment to Form ADV, i.e., the "Umbrella Registration" for asset managers, specifically Item 1.I. as described below by K&L Gates:

> Recognizing the increasing use of social media by advisers, the SEC has also amended Item 1.I. to request information regarding the registrant’s accounts on publicly available social media platforms, such as Twitter, Facebook, and LinkedIn. Previously, Item 1.I. only asked for information about an adviser’s websites. Now, the registrant must provide, in addition to its website addresses, the addresses of each of its social media pages in Section 1.I. of Schedule D. However, a registrant should not provide the addresses of websites or accounts on publicly available social media platforms where the registrant does not the control the content, nor should it provide the website and social media addresses of its employees’ accounts, regardless of whether the registrant controls the content of such accounts.

While many prominent asset managers enjoy twitter's anonymity and hide behind a pseudonymous account, their true ids are usually familiar to those in the industry. Still, the forced disclosure requirement could open many of the more outspoken - if erudite - voices to litigation and generally unpleasant legal involvement with those who disagree with them, resulting in potential money management complication.

In an example of just that, moments ago one of the most popular "anonymous" accounts on twitter, that of a certain Wall Street Cynic, famous for his bearish persuasion since the days of Enron, has just announced his departure from twitter.

> Dear FinTwit: It is with a heavy heart that I must leave Twitter to return to Ancient Greece on December 31st. The SEC, beginning in 2018, is requiring registered investment advisors to disclose any social media anonymous accounts, on Form ADV.

> — Diogenes (@WallStCynic) December 29, 2017

> (2) The last four years has been a blast, both financially and politically. While I know many of you didn’t always agree with my snarky takes on Trump, Elon, etc., I hope I at least made you consider a different, if not ancient, point-of-view.

> — Diogenes (@WallStCynic) December 29, 2017

> (3) But most importantly, were the new friends I made and the old friendships rekindled. And you never know, Diogenes may come back reincarnated as a Modern Cynic. Be well, and keep searching for the truth. Dio

> — Diogenes (@WallStCynic) December 29, 2017

There were of course, some humorous takes on the topic...

> Sad news to report. I am closing my fund so that I can keep this account going.

> — 🍶🍶🍶 (@highermoments) December 29, 2017

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## Comments

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HRH of Aquitaine 2.0 Dec 29, 2017 11:26 AM

What about ZH? Will you still be on Twatter? Or let it go?

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YUNOSELL HRH of Aquitaine 2.0 Dec 29, 2017 11:31 AM

Here it is folks, the police state is slowly arriving

In reply to What about ZH? Will you… by HRH of Aquitaine 2.0

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JRobby YUNOSELL Dec 29, 2017 12:16 PM

"Unmasking" all in the name of "The State"..... where the unmasking really needs to take place.

In reply to Here it is folks, the police… by YUNOSELL

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shitshitshit JRobby Dec 29, 2017 12:30 PM

The solution will be obvious: add one level of involuntary insurrection before the social media layer. Plausible deniability.

Do you really think one simple lousy law will stop whistleblowers?

In reply to "Unmasking" all in the name… by JRobby

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aVileRat shitshitshit Dec 29, 2017 2:38 PM

If it were that simple, we would have been doing it for the past 2 years. The problem is related parties must also be disclosed, the law as it is framed to "protect markets" is basically a prototype for controlled opposition as it reads line for line like a free speech disclosure control which was adopted for Chinese social media in 2005.

Compliance departments are very leery about the blowback on firms, particularly for taking hard views which counter market or institutional trends. Everything is so beta correlated now, you get shit from all counterparties over publishing common market information on anon. or ZH which were kosher to publish back in 2008.

In reply to The solution will be… by shitshitshit

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Dr. Engali HRH of Aquitaine 2.0 Dec 29, 2017 11:32 AM

The original Tyler, may he Rest In Peace, was already banned from FNRA so it wouldn’t apply. Be that as it may, this place is run by robots now so your question does not apply.

In reply to What about ZH? Will you… by HRH of Aquitaine 2.0

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OverTheHedge Dr. Engali Dec 29, 2017 11:37 AM

Hey, I received a personal email from Tyler today - he signed it and everything. I have already mounted it.

In reply to The original Tyler, may he… by Dr. Engali

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Tyler Durden Dr. Engali Dec 29, 2017 11:43 AM

If only that were the case

In reply to The original Tyler, may he… by Dr. Engali

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Dr. Engali Tyler Durden Dec 29, 2017 11:54 AM

Daniel is that you? Naaa, I didn’t think so. By the way, Daniel Ivandjiiski was barred from FNRA in 2008 for insider trading. So yes, my comment holds true.

In reply to If only that were the case by Tyler Durden

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FullHedge1 Dr. Engali Dec 29, 2017 12:47 PM

Account ban in 3... 2...

In reply to Daniel is that you? Naaa, I… by Dr. Engali

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Anybody Dr. Engali Dec 29, 2017 1:19 PM

It's interesting what is in Wikipedia when you search for "Daniel Ivandjiiski".

In reply to Daniel is that you? Naaa, I… by Dr. Engali

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HRH of Aquitaine 2.0 Tyler Durden Dec 29, 2017 12:20 PM

One of those days. Hang in there!

In reply to If only that were the case by Tyler Durden

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Ghost of PartysOver HRH of Aquitaine 2.0 Dec 29, 2017 11:33 AM

If Twitter, Facecrap, InstaTurd and all the others ended up in the trash heap of history the world would be a better place.

In reply to What about ZH? Will you… by HRH of Aquitaine 2.0

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PT Ghost of PartysOver Dec 29, 2017 12:14 PM

Just walk away. It ain't gonna get any easier.

In reply to If Twitter, Facecrap,… by Ghost of PartysOver

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Jacobra Dec 29, 2017 11:33 AM

Damn Fedgov, ruins everything.

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pigpen Dec 29, 2017 12:01 PM

Chanos you will be missed. For all of his followers, try brave browser as brave blocks advertising, malware and tracking by DEFAULT on any device and operating system.

He who controls browser controls the money.

Brave is going to destroy the goobook monopolies and they have crypto payment method to pay content providers.

Ring in the new year with new brave browser.

Cheers,

Pigpen

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Automatic Choke Dec 29, 2017 12:57 PM

so lets all out ourselves and ditch the anon. keep the conversations going.....and perhaps some of the trolls will disappear.

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fattail Dec 29, 2017 2:45 PM

How is one supposed to pump and dump with out the multitude of anonymous accounts?

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RedDwarf Dec 29, 2017 3:23 PM

More police state bullshit. If the accounts are anonymous, then it's a break from their professional reputation. None of their cache comes along. So there is no reason logically for this SEC change, so it's about power and control, not proper regulation.

What is especially interesting is how the Deep State is now targeting the rich more than the middle class and poor. If you have money, then you must OBEY. You must be part of the ANIMAL FARM pigs or else. Saudi Arabia, what Putin has done to certain billionaires, the qualified investor laws in the USA, various version of soft and hard laws both pro and anti rich. No one practices egalitarianism even conceptually anymore.

In short, we are heading toward even more internecine conflict among the elites. This is another reason the fourth turning will be coming to a close soon. Fools who think they can control everything will lose everything. The only question is how much blood is going to be shed in this Fourth Turning.

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Arnold Dec 29, 2017 3:53 PM

Does the @PaulKrugman have to out who really writes it?

https://mobile.twitter.com/paulkrugman?ref_src=twsrc%5Egoogle%7Ctwcamp%…

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