Elon Musk in the sights of the US SEC, his Tweets shake the balance of the market
As recently confirmed, Elon Musk is once again in a somewhat awkward situation when it comes to US SEC controls.
It seems that thanks to his position as an entrepreneur and the success of his companies and his actions, Elon Musk finds himself in a situation that makes him even too important. We are basically dealing with the richest man in the world, which does not make it all who knows how strange, but we have even reached the point where his success may have limited his freedom of speech.
As reported on the pages of TechCrunch , in fact, we are talking specifically about some regulations of the United States that concern the entrepreneur, and which apparently could even end up in the future to limit his Tweets, leaving that he has no way to speak freely without that there is first a check at the base.
According to the entrepreneur, this type of practices are unjustified and harmful, but it must be said that it is certainly no mystery that a single series of words spoken by the entrepreneur has the way to move the balance of an entire market, especially if we think about what happened with stocks and cryptocurrencies, which therefore puts Musk in a particularly delicate situation.
Melissa Amrstrong , a member of the United States Securities and Exchange Commission , commented on the situation:
In 2018, to resolve the actions against him, Musk agreed to accept Tesla’s mandatory procedures that require pre-approval for certain types of brand-related public communications. Musk can’t now decline final judgment simply because he believes following Tesla’s procedures are less convenient than he imagined, or because he hopes the SEC doesn’t investigate whether head-on disclosure controls and procedures are actually coming. followed and maintained.Advertisement
As long as Musk and Tesla use Musk’s Twitter account to disclose information to investors, the SEC is entitled to investigate matters related to controlling Tesla’s information disclosure and procedures, including Musk’s Tweets about Tesla, as well as the accuracy of public statements regarding its controls and procedures.
- US regulators say someone really needs to monitor Elon Musk’s tweets (TechCrunch)