Trump?s new media company deal investigated by SEC

Wall Street's top financial regulators are investigating Donald Trump's $1.25bn deal to float his new social media venture on the stock market, a filing showed on Monday.

Digital World Acquisition Corporation, the blank-check acquisition firm that agreed to merge with Trump Media & Technology Group Corp (TMTG), disclosed in a regulatory filing on Monday that the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (Finra) were looking at the deal.

Digital World said the SEC asked for documents in early November relating to communications between it and TMTG, meetings of its board, policies and procedures relating to trading, the identification of banking, telephone and email addresses and the identities of certain investors.

The SEC stated in its request that its investigation does not mean that the regulator has concluded that anyone violated the law, Digital World said.

TMTG did not respond to requests for comment.

The Massachusetts senator Elizabeth Warren had asked the SEC to investigate TMTG's proposed merger with Digital World over potential violations of securities laws, including whether they had sufficiently disclosed when deal talks began.

The SEC declined to comment.