You can still benefit if the market moves in your favour, or make a loss if it moves against you. The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD. The difference between trading assets and CFDs Should the SEC bring criminal charges against Musk, Morrison and Foerster added punishment may be “a monetary fine of up to ($5m), imprisonment of up to 20 years and/or disgorgement.”Īmong the factors the SEC takes into account when deciding on any potential severity of charges include a defendant “continues to maintain that his or her past conduct was blameless,” and “whether… the defendant might be in a position where future violations could be anticipated.” Twitter stock price While this isn’t Musk’s first rodeo with what he dubs the “Shortseller Enrichment Commission” he could face both civil and criminal charges should the SEC bring an enforcement action against him.Īccording to New York-based law firm Morrison and Foerster, “The SEC may bring an enforcement action, in the context of a Schedule 13D or Schedule 13G filing.”Ĭivil penalties could potentially come in the form of “injunctive relief, a cease-and-desist order, monetary penalties and other forms of equitable relief (eg: disgorgement of profits).” Twitter 5-year performance - Photo: TradingView Potential SEC punishment Additionally, the SEC currently has a proposed change to Rules 13D and 13G to shorten the reporting period from 10 to five days after a shareholder crosses the 5% threshold. More specifically, Musk’s Schedule 13G filing lists 14 March as the date his Twitter stake topped 5% of total outstanding share float – or 11 days after the 25 March reporting deadline. “But going all activist investor wouldn't be the first time Elon didn't play by the (SEC)’s rules.” “Well, technically the SEC filing Elon made indicates that his stake is passive (read: he isn't seeking control of the company),” noted daily stock newsletter The Water Coolest on Tuesday. This all took place while using the social media platform to send cryptic messages to his 80 million followers, including an opinion poll asking whether Twitter adheres to the First Amendment of the US Constitution, guaranteeing freedom of speech.
Musk, however, may have run afoul of US Securities and Exchange Commission (SEC) reporting rules by missing the deadline to report his Twitter stake. Twitter 5-day performance - Photo: TradingView Potential 13G violation? SPXS Direxion Daily S&P 500 Bear 3X Shares TECL Direxion Daily Technology Bull 3X Shares
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