Elon Musk's offer to compensate for missing a meeting with SEC lawyers has been rejected.
The meeting was part of an investigation into Musk's acquisition of Twitter Inc.
The SEC argues that the proposed reimbursement is insufficient and is calling for a formal sanction against Musk to emphasize the seriousness of his actions.
Musk was absent from the meeting due to his attendance at a SpaceX rocket launch in Florida.
The SEC's filing emphasizes the importance of not taking this matter lightly, suggesting that there may be further scrutiny of Musk's business dealings and compliance with regulatory obligations.