The US closely monitors Elon Musk’s Twitter acquisition

According to Bloomberg, the Elon Musk Twitter’s acquisition now faces scrutiny in Washington, after a report said the US Securities and Exchange Commission (SEC) was probing whether Elon Musk broke rules by disclosing a large amount of stake in the platform social network this or not.

Elon Musk’s acquisition of Twitter is facing closer scrutiny Reuters

According to Wall Street Journal reported on May 11, the SEC is also investigating Elon Musk’s submission of forms that investors must submit when they accumulate more than 5% shares of a company. Meanwhile, the Federal Trade Commission is reviewing Elon Musk’s bid to take Twitter private. On April 4, Elon Musk revealed that he had bought back more than 9% of the company’s shares, a week later than allowed by regulations and using a profile normally reserved for passive investors. An SEC spokesman declined to comment on the report. Alex Spiro, Elon Musk’s personal attorney, also did not immediately respond to a request for comment.

Over the years, SEC was constantly at odds with Elon Musk. The agency is investigating whether the billionaire and his brother broke insider trading rules when they sold shares of electric car maker Tesla late last year. It is known that Elon Musk has denied it and is fighting with the regulator in court, because of the content from the famous tweet he wrote in 2018 that he has secured the capital to make Tesla a private company. core.