If you thought that Elon Musk’s recent settlement with the U.S. Securities and Exchange Commission would discourage him from speaking his mind, you might want to reconsider.
Musk recently sat down with 60 Minutes in the United States for a wide-ranging interview about Tesla. When the topic of Musk’s now-infamous “funding secured” tweet came up, the entrepreneur didn’t hold back when discussing the SEC.
“I want to be clear. I do not respect the SEC. I do not respect them,” he stated.
In October, Musk settled with the SEC to charges that he had misled investors when he tweeted that funding had been secured to take Tesla private at $420 a share. As part of the deal, Musk agreed to pay a $20 million fine and step aside as chairman for three years. Additionally, Tesla itself will have to hand over an extra $20 million.
Moreover, the settlement requires Tesla’s board to implement procedures designed at reviewing Musk’s communications with investors, including what he publishes on Twitter.
During the 60 Minutes interview, Musk said that these measures had yet to prevent him from tweeting whatever he wants. But that’s not the first time he lashes out against the SEC. Shortly after reaching his settlement last month, Musk took to Twitter and wrote that SEC stands for “Shortseller Enrichment Commission.”