Elon Musk, the owner of X (neé Twitter), Tesla, and SpaceX, responded to an X by outgoing SEC Chairman Gary Gensler in a stinging retort. Gensler’s exit from the Commission was announced today with the Chairman dragging it out until the day President-elect Donald Trump is sworn in on January 20, 2025.
Gensler shared on X that he was stepping down while thanking both SEC staff and President Joe Biden for entrusting him with “this incredible responsibility.”
On January 20, 2025 I will be stepping down as @SECGov Chair.
A thread 🧵⬇️
— Gary Gensler (@GaryGensler) November 21, 2024
Musk, who is highly active on X with over 200 million followers, responded to the thread asking if it is true that SEC employees only spend a single day in the office each month.
Is it true that the SEC only works one day a month in the office?
— Elon Musk (@elonmusk) November 21, 2024
Gensler has been a polarizing figure during his leadership of the Commission. He will probably be best remembered for his stance on regulating digital assets by enforcement while pursuing political goals – probably best left alone by the securities regulator.
While commentators have criticized the SEC for maintaining lenient remote work protocols, it is probably hyperbole to suggest that most staff spent only a day a month at the F Street Offices. This being said, a report published in 2023 by the Office of Inspector General (OIG) evaluating the SEC workplace noted that as of July 2021, the SEC permitted employees to voluntarily work onsite at an SEC workplace. Later, in January 2023 – SEC supervisors were required to begin working in the office at least two days per pay period. This was followed in March 2023 when non-supervisors were required to start working in the office at least two days per pay period unless otherwise approved for remote work. A pay period is every two weeks.
The initial shift to remote work coincided with the COVID-19 health crisis.
