---
title: "Elon Musk Settles With SEC, Agrees To Limit Disclosures (Again)"
description: "Tesla's Twitter-happy CEO will have to stick to tweeting memes, as he agrees to avoid company-related disclosures."
date: "2019-04-26"
modified: "2019-04-26"
authors:
  - name: "Edward Niedermeyer"
    job_title: "Senior Editor, Mobility Technology"
    link: "https://www.thedrive.com/authors/edward-niedermeyer"
url: "https://www.thedrive.com/tech/27696/elon-musk-settles-with-sec-agrees-to-limit-disclosures-again"
categories:
  - "Car Tech"
  - "Culture"
  - "News"
  - "News by Brand"
  - "People"
  - "Tesla News"
tags:
  - "Elon Musk"
---

# Elon Musk Settles With SEC, Agrees To Limit Disclosures (Again)

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2019/04/GettyImages-1134883426-e1559085033165.jpg>)
*\<em\>www.thedrive.com</em>*

Tesla CEO Elon Musk has reached an agreement with the Securities and Exchange Commission, ending [months](<https://www.thedrive.com/news/27287/judge-tells-elon-musk-sec-to-put-your-reasonableness-pants-on-and-settle-twitter-row-in-two-weeks>) of [controversy](<https://www.thedrive.com/news/27560/judge-extends-deadline-once-again-in-teslas-elon-musk-vs-sec-contempt-case-deal>) over his tweets about the electric car maker's business. In the latest consent order \[[PDF via Plainsite.org](<https://www.plainsite.org/dockets/download.html?id=280933856&z=790f2eac>), entire [docket here](<https://www.plainsite.org/dockets/3ciodapq4/new-york-southern-district-court/united-states-securities-and-exchange-commission-v-musk/>)\] with the market regulator, Musk agrees to obtain pre-approval by an "experienced securities lawyer employed by the company" of any written communication about a laundry list of Tesla-related topics.

The new, more specific list of topics Musk is now required to receive oversight of include

- the Company’s financial condition, statements, or results, including earnings or guidance; • potential or proposed mergers, acquisitions, dispositions, tender offers, or joint ventures
- production numbers or sales or delivery numbers (whether actual, forecasted, or projected) that have not been previously published via pre-approved written communications issued by the Company (“Official Company Guidance”) or deviate from previously published Official Company Guidance;
- new or proposed business lines that are unrelated to then-existing business lines (presently includes vehicles, transportation, and sustainable energy products); • projection, forecast, or estimate numbers regarding the Company’s business that have not been previously published in Official Company Guidance or deviate from previously published Official Company Guidance;
- events regarding the Company’s securities (including Musk’s acquisition or disposition of the Company’s securities), credit facilities, or financing or lending arrangements; • nonpublic legal or regulatory findings or decisions;
- any event requiring the filing of a Form 8-K by the Company with the Securities and Exchange Commission, including:
- a change in control; or • a change in the Company’s directors; any principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer, or any person performing similar functions, or any named executive officer; or
- such other topics as the Company or the majority of the independent members of its Board of Directors may request, if it or they believe pre-approval of communications regarding such additional topics would protect the interests of the Company’s shareholders;

Musk's original September 2018 consent order, [stemming from fraud charges brought due to his tweets claiming to have secured funding for a company buyout at $420 per share](<https://www.thedrive.com/news/24254/federal-judge-approves-elon-musks-sec-settlement>), had been far more vague about communications requiring oversight, simply stating that Musk required "oversight of communications relating to the company." The [SEC filed to hold Musk in contempt](<https://www.thedrive.com/news/26638/tesla-ceo-elon-musk-slammed-with-contempt-claim-for-breaching-sec-agreement>) of the original order earlier this year, alleging that Musk had made repeated forecasts and disclosures about Tesla's business without ever seeking oversight.

## Author
The former Editor-in-Chief of The Truth About Cars, Ed has contributed to BloombergView, The New York Times, Wall Street Journal, and other outlets. He co-hosts The Autonocast, one of the most-followed podcasts on autonomous and advanced mobility tech. His book "Ludicrous: The Unvarnished Story of Tesla Motors" will be published by BenBella Books in 2019.

### Author social links  
[Twitter](<https://twitter.com/Tweetermeyer>)