Hyperdrive
Elon Musk Mocks SEC, Calls for Short-Selling to Be Made Illegal
- CEO calls agency ‘Shortseller Enrichment Commission’ in tweet
- Ex-enforcement lawyer says regulator could ramp up punishment
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Elon Musk insulted the Securities and Exchange Commission days after settling a fraud lawsuit with the U.S. agency, potentially imperiling a deal that allows him to remain Tesla Inc.’s chief executive officer.
In a tweet referring to the SEC as “Shortseller Enrichment Commission,” Musk wrote sarcastically that the regulator was “doing incredible work.” An agreement he reached with the agency Saturday -- which isn’t final -- would bar him from serving as chairman for three years as punishment for problematic posts he sent about taking Tesla private.