The recent appointment of the co-director for the U.S. President-elect Trump’s “Department of Government Efficiency” (DOGE) is drawing attention to the operational effectiveness of the U.S. Securities and Exchange Commission (SEC). Following SEC Chairman Gary Gensler’s announcement of his resignation effective January 20, the tech mogul Elon Musk took to X, questioning, “Does the SEC really only work in the office one day a month?” This statement reflects the tumultuous relationship Musk has experienced with the SEC over the years.
In 2018, Musk faced scrutiny and ultimately consented to pay a substantial $20 million fine and vacate his position as Tesla’s chairman as part of a settlement regarding allegations of securities fraud. These allegations were linked to a tweet where Musk suggested he had secured financing to take Tesla private. Additionally, he has been under investigation for prematurely disclosing stock purchase information related to a takeover attempt, even labeling the SEC as the “Shortseller Enrichment Commission.” This discourse accentuates ongoing tensions between influential tech leaders and regulatory bodies.
Source: https://en.coinotag.com/breakingnews/dogecoins-elon-musk-questions-sec-efficiency-amid-leadership-changes/