The Acting SEC Speaker was the only commissioner who did not vote to prosecute Elon Musk

Before Donald Trump took office in January, it was said that the American Securities and Stock Exchange Committee had held a vote on whether the agency would sue Elon Musk due to alleged legal violations of the Securities Law related to the purchase of Twitter. According to ReutersFour Commissioners – three democrats and one Republican – obtained the proceeding of legal procedures against musk. The only “no” vote came from Marc Oida. He is now the Agency’s head of agency.

Among the case in the Musk case was his failure to share the fact that he got more than 5 % of the Twitter shares while he was still public, a threshold that requires general disclosure within 10 evaluation days. Hold the musk with information for a full 10 days and then at least 10 days, According to the SEC complaintWho claims to allow him to pay for shares at at least $ 150 million. Once Musk finally made it clear that he owns more than 5 % of the company, The price of Twitter shares increased by 27 %.

The Supreme Education Council has been investigating that, along with another shaded activity surrounding the Musk acquisition of Twitter, since 2022. On January 14, 2025, Commissioners voted to determine whether the agency will follow legal procedures based on the results of its achievement. Republican Commissioner Hyster Peres has a case with the amount that SEC wants in the musk tone, According to ReutersBut voted in favor of the lawsuit in any case.

But Oida took a different path. According to Report from BloombergHe began to pressure the SEC employees to sign a pledge announcement that the case against Musk was not out of politics. Insist that the issue is not political is not something that the Supreme Education Council does (also declares that this issue is not a political that means that others, so it will be strange to do this) and the employees refused to sign the pledge. With no one behind him, Idea voted on suggesting the sustaining musk, and The movement passed4 to 1.

Now, after a little more than a month, Uyeda was Exploitation of Trump To be the head of acting from a second. The agency is still moving forward with the lawsuit against musk – in fact, it has just happened Call the court summons Regarding the case last week, which requires his lawyer to respond by April 4. But it is possible that it is easy to know the man at the top of the agency. This, along with Trump Executive order Announcing the investigation of investigations into the previous Biden administration, adopts the Supreme Education Council a New rule Add obstacles to conducting investigations, and Continuous from the agency By Musk itself and the Ministry of Governmental efficiency, Musk gives a lot of influence in determining the results of any action against it.