Elon Musk ‘Does Not Respect’ The SEC After $20 Million Fine

Despite costing himself $20 million of his own money in a fine brought about by the SEC, Elon Musk is still at the Commission’s throat…
Elon Musk ‘Does Not Respect’ The SEC After $20 Million Fine

Elon Musk has attacked the Securities and Exchange Commission (SEC) just months after the body forced both him and Tesla to pay $20 million each following ‘misleading’ Tweets that caused havoc on the stock markets.

In an interview with the popular news feature show 60 Minutes on CBS, Musk didn’t hold back with his – perfectly legal – opinions. He said:

“I want to be clear: I do not respect the SEC.”

Elon Musk ‘Does Not Respect’ The SEC After $20 Million Fine

This comes just months after he was forced by SEC action to settle at the eight-figure penalty in the face of potentially catastrophic legal action. It will certainly rub the SEC up the wrong way, although this time there’s nothing they can do about it.

Musk also revealed, in line with what any outside observer would have expected, that almost no checks are made on his personal Tweets. Everything comes directly from Musk himself with no ‘safety net’ in place, except for Tweets about matters that could affect Tesla’s shares.

Elon Musk ‘Does Not Respect’ The SEC After $20 Million Fine

Musk remains Tesla’s largest shareholder and arguably has the most to gain – or lose – by playing God with the share price. Although the SEC forced him to remove himself as Tesla chairman, Musk is still the public face of the brand and the main puller of strings. He told 60 Minutes that he could “get anything done that I want” in a shareholder meeting.

Meanwhile, Tesla’s Autopilot is entering a new and intriguing development phase that should, claims Musk, allow cars equipped with this update to “go from your garage at home to parking at work with no driver input at all.”

Comments

Chewbacca_buddy (McLaren squad)(VW GTI Clubsport)(McLaren 60

Then again, if you got slapped with a $20 million dollar fine you wouldn’t exactly be fine with it

12/11/2018 - 10:56 |
39 | 2

Especially when you feel like you hadn’t done anything wrong

12/11/2018 - 16:02 |
0 | 1

He is a multi billionaire so he should suck it up and pay the fine and stop being such a moany whining fruit cake of a man. What a greedy git.

12/18/2018 - 18:47 |
0 | 0
TheCuttingboard

Honestly I’m happy for him. Instead of giving up and taking the easy way, he is still making sure to express his opinions and to make it clear to the SEC.

12/11/2018 - 11:43 |
5 | 5

Being an ass doesn’t show your tough side.

12/11/2018 - 11:56 |
9 | 4

Make what clear? He’s being an arsehole. He should command little respect on that alone.

12/11/2018 - 12:46 |
3 | 2
CannedRex24

elon in school:

does something incredibly dumb that gets him in trouble in middle school, and the teacher sends him to detention.

and when everyone asks what happened

Young Elon:i do not respect my teacher.

12/11/2018 - 12:11 |
29 | 2

Pretty much nailed it on the head.

12/11/2018 - 12:47 |
7 | 2
AAA Insurance

[DELETED]

12/11/2018 - 12:47 |
2 | 0
AAA Insurance

why was my comment deleted? Is humour not allowed? what lol

12/11/2018 - 13:02 |
2 | 1
Anonymous

This reminds me of this time when I was being stupid in class, and the teacher made me stay in at lunch time, and I started telling people that this teacher is a terrible person, etc. But that was when I was 8. Elon Musk really needs to grow up a bit.

12/11/2018 - 15:06 |
2 | 2
Pagz777

In reply to by Anonymous (not verified)

Honestly, too bad all the kids on this site don’t get that

12/11/2018 - 16:13 |
1 | 1
Anonymous

In reply to by Anonymous (not verified)

Except this is like that time the teacher punished you for a drawing you made in the evening at home for your fun and then made you clean the school toilets to make up for your tree drawing with visible underground roots. What did you learn from that event? That’s right, nothing. Because the teacher was a terrible person, not worthy of respect. But hating Elon is cool bc his purpose in life is to kill the greatest invention, the ICE, he is satan. We learned this when we grew up, didn’t we.

12/12/2018 - 09:00 |
0 | 1
Anonymous

Ha, i knew that is what you would pull out of the interview.
.
Possibly buying factories and creating thousands of jobs?…Snore
.
The future of Tesla, his trust the new Chair….. Boring
.
related: how about how he still respects the decision that was ultimately made… better leave that out.
There was plenty of good material there to write something decent for once and you still choose to be ignorant as helll.

12/11/2018 - 15:53 |
5 | 2
Elliot James

In reply to by Anonymous (not verified)

Its CT lol, the place were electric cars are treated like the devil

12/12/2018 - 16:58 |
0 | 0
Abraham 6

In reply to by Anonymous (not verified)

fax

12/13/2018 - 21:18 |
0 | 0
Pagz777

Cool, hope they fine him again

12/11/2018 - 16:12 |
2 | 2
Anonymous

So, why does he need all of his tweets babysat? The settlement o only stipulates that the tweets that could effect the stocks need to be evaluated?

12/11/2018 - 20:47 |
1 | 0

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