The SEC closed its investigation into Fisker

The Securities and Exchange Commission closed its investigation into bankrupt electric vehicle startup Fisker around last September One year after the investigation was opened.

TechCrunch has learned that the investigation was closed when the financial regulator responded to a Freedom of Information Act (FOIA) request in January. The SEC’s Freedom of Information Act Directorate said it had identified “approximately 21.7 gigabytes of electronically archived records” related to the investigation. The agency does not typically make records available if investigations are still open, and explained in a follow-up email that they were “closed in September 2025.”

It is not clear how far the investigation has progressed. Supreme Education Council Detect the presence of the probe In an October 2024 filing in Fisker’s bankruptcy case. The agency wrote at the time that it had sent subpoenas to the company and that it may need to “request or subpoena additional documents in the future related to its ongoing investigation.”

An agency spokesman declined to comment. Founder and former CEO Henrik Fisker did not respond to a message seeking comment.

The closure of the Fisker investigation comes amid a significant decline in enforcement actions and settlements during President Trump’s second term. The SEC initiated 313 enforcement actions in 2025 — the lowest in a decade, down 27% from the final year of President Biden’s term, according to Analysis conducted by Paul Weiss Law Firm. only Four of those are executive actions She was against public companies. Total cash settlements have decreased by 45% since 2024.

Fisker was one of the last remaining electric vehicle startups under investigation by the Securities and Exchange Commission. Over the past few years, the agency has settled fraud or other charges against it Nicola, Lordstown Motors, Kano, Hizon Motorset al. In 2023, The investigation was closed at Lucid Motors without a lawsuit.

The only known active investigation remaining into electric vehicle startups is the Faraday Future investigation, which is now nearly four years old. In July 2025, the Securities and Exchange Commission (SEC). He sent Faraday and several executives “Wales Notices,” or letters informing the subject that investigators are recommending enforcement action. No action has been taken since those letters were sent, and Faraday’s regulatory filings indicate it has yet to respond to Wells’ notices.

Fisker It declared bankruptcy in June 2024 Amid a host of problems with its first electric vehicle, the Ocean SUV. The company spent years Make bold promises It’s about developing radical new technologies, but it has revolved around those ideas several times. It also faced major financial problems In preparation for its collapse. It used the Chapter 11 bankruptcy process to sell its remaining Oceans stock to Oceans A company that rents vehicles to taxi drivers and liquidate its other assets.