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The SEC closed its investigation into Fisker

The SEC closed its investigation into bankrupt electric vehicle startup Fisker in September 2025, approximately a year after it opened. The news emerged following a Freedom of Information Act request, marking Fisker as one of the last EV startups investigated, alongside ongoing concerns for companies like Faraday Future. This follows a significant decline in SEC enforcement actions under President Trump, reaching the lowest level in a decade.

Key points

  • The SEC closed its investigation into Fisker in September 2025, after initially opening it a year prior.
  • The closure was confirmed through a FOIA response by the SEC, which identified 21.7 gigabytes of related records.
  • Fisker filed for bankruptcy in June 2024 due to issues with its electric vehicle, the Ocean SUV, and financial troubles.
  • In 2025, the SEC initiated the lowest number of enforcement actions in a decade, with just four actions against public companies.
  • Fisker was one of the last electric vehicle companies under investigation, with the only remaining probe relating to Faraday Future.
  • The analysis indicated a 27% drop in enforcement actions compared to the last year of President Biden's term and a 45% decrease in monetary settlements.

Why it matters

  • The decline in SEC enforcement actions corresponds with the political climate during Trump's second term, reflecting a shift in regulatory focus.
  • Fisker's investigation closure aligns with a broader trend of reducing scrutiny on electric vehicle startups, many of which have faced regulatory challenges recently.
  • The SEC's earlier actions against companies like Nikola and Lucid Motors highlight ongoing concerns about financial practices in the rapidly evolving EV industry.
  • The situation with Faraday Future represents lingering regulatory uncertainties in the electric vehicle sector as of 2025.

The closure of the SEC's investigation into Fisker symbolizes a fraught period for electric vehicle startups, showcasing the challenges in the industry amid changing regulatory landscapes and the ramifications of broader political currents.