Tesla CEO Elon Musk Predicts ‘Comprehensive Overhaul’ of SEC With 100% Probability
Tesla and Spacex CEO Elon Musk has called for a thorough overhaul of regulatory bodies, including the U.S. Securities and Exchange Commission (SEC).
In response to X user Mario Nawfal, who shared the news of Musk being sued by the SEC, the
Tesla CEO wrote:
A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain. Can’t wait for this to happen.
Moreover, another X user asked Musk:
“Will it ever happen?” The billionaire replied: “I estimate the probability at 100%”
On Thursday, the SEC announced that it had filed a subpoena enforcement action against Musk.
The regulator is seeking a court order to compel the Tesla boss to attend an investigative testimony concerning his purchase of Twitter.
Musk has frequently voiced his disapproval of the SEC. During a December 2013 interview with “60 Minutes,” he clarified that he adhered to the settlement agreement with the SEC out of respect for the justice system. He stressed at the time:
“I do not respect the SEC. I do not respect them.”
