“Elon Musk reached a deal with the S.E.C. on Saturday night to resolve securities fraud charges tied to his bid to take Tesla private. The deal requires him to step aside as the automaker’s chairman for three years — though he can remain C.E.O. — and pay a $20 million fine. Tesla must also name two independent directors and monitor Mr. Musk’s communications with investors.”

Source : DealBook Briefing: The S.E.C. Can’t Change Elon Musk – The New York Times