Musk agrees to pay $1.5 million to settle SEC's allegations of improper disclosure of his Twitter holdings

According to market news, Elon Musk has agreed to pay $1.5 million to settle the U.S. Securities and Exchange Commission (SEC) allegations regarding his failure to properly disclose his increasing stake in Twitter in 2022. It is reported that Musk did not admit to the allegations.

Previously, the SEC accused Musk of failing to timely disclose that his stake had exceeded 5% during the process of acquiring Twitter shares.