Wall Street's top financial regulators are investigating former U.S. President Donald Trump's $1.25 billion deal to float his new social media venture on the stock market, a filing showed, Reuters reported. Digital World Acquisition Corp, 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 probing the deal. Digital World said the SEC asked for documents in early November relating to communications between Digital World and TMTG, meetings of Digital World's 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 added.
