Elon Musk's DOGE Initiates SEC Audit
Date: 2025-02-19 Author: Gabriel Deangelo Categories: BUSINESS
DOGE intends to conduct a detailed audit of the SEC's activities in the near future, Politico reports, citing informed sources. Representatives of the department called on the public to provide information on possible violations within the commission.
Vice Chair of the House Financial Services Committee Maxine Waters expressed concern about this investigation. She believes that DOGE and Musk personally can gain access to confidential SEC information, including the Consolidated Audit Trail system, which potentially threatens the security of the financial market. In her letter to Acting SEC Chairman Mark Weda, Waters emphasized the possible risks associated with DOGE's intervention.
Meanwhile, the Donald Trump administration assured that Musk is not directly involved in the work of DOGE, and the president himself is ready to take measures to prevent conflicts of interest.
It is worth recalling that on January 14, 2025, the SEC filed a lawsuit against Elon Musk, accusing him of violating the deadline for disclosing information about the acquisition of X shares. According to the regulator, Musk continued to buy up the company's securities at reduced prices, spending over $500 million and underpaying at least $150 million.
