What is the purpose of regulatory enforcement by the Securities and Exchange Commission? Is it to punish those who violate securities laws? Is it to protect the U.S. investor? Is it to deter CEOs and other senior executives from releasing insider information which may or may not be accurate or even true? All of these questions and many, many more are now facing the SEC after the tweet last week by Tesla founder Elon Musk that he was considering taking the company private at $420 per share and had “funding secured” to do so.
