SEC Argues Against Musk's 'Twitter Sitter' Appeal

Friday, 22 March 2024, 21:25

The Securities and Exchange Commission has strongly advised the US Supreme Court to deny Elon Musk's appeal concerning oversight over his Twitter activity. The SEC seeks to maintain the agreement requiring Musk to have an in-house lawyer approve his social media posts related to Tesla Inc. This move signifies the regulatory watchdog's firm stance on enforcing compliance within the financial sector.
https://store.livarava.com/06a2cf28-e895-11ee-969b-5254a2021b2b.jpe
SEC Argues Against Musk's 'Twitter Sitter' Appeal

SEC Urges Supreme Court to Reject Musk's 'Twitter Sitter' Appeal

The Securities and Exchange Commission (SEC) has submitted a recommendation to the US Supreme Court, urging the rejection of Elon Musk's appeal regarding oversight of his Twitter activity. The regulatory body aims to uphold the existing agreement that mandates Musk to seek internal legal approval before posting on social media, especially concerning Tesla Inc.

Rationale for SEC's Recommendation

One of the main reasons behind the SEC's stance is to ensure that public statements from key figures, such as Musk, adhere to regulatory standards and do not unduly impact investors or markets. By requiring oversight on Musk's social media posts, the SEC aims to mitigate potential risks associated with misinformation or market manipulation.

Conclusion: The SEC's recommendation to the Supreme Court signifies its commitment to enforcing transparency and accountability in financial communications, particularly in cases involving influential personalities like Elon Musk.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe