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The CEO of Tesla, Elon Musk has mocked the Securities and Exchange Commission by calling the organisation the "Shortseller Enrichment Commission" only days after settling charges of fraud brought against him by the agency.

Musk derided the SEC as the "Shortseller Enrichment Commission" before snidely praising it for "doing incredible work".

The tweets come days after Musk agreed to relinquish his Tesla chairmanship for at least three years and pay a $20 million fine.

Musk's tweet came the same day that Judge Alison Nathan, a US District Court judge in NY, requested a joint letter explaining why she should approve the tentative settlement deal between Musk and the Securities and Exchange Commission.

Elon Musk's settlement with the SEC is not finalised yet. "And the name change is so on point!"

"That was quick", said Peter Henning at The New York Times.

Tesla did not immediately respond to CNBC's request for comment.

While this is not the first time that Musk tweeted a music video whose lyrics are clearly not related to his business dealings, avid Twitter followers of the Tesla CEO speculated that Monday's cryptic message was a veiled reference to "operating profit positive". It is also unclear whether this money will be used to cover Musk's $20 million SEC fine.

But the settlement still needs court approval.

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Investors who betted against Tesla lost over $1 billion near enough straight after the tweet was posted.

Tesla shares plunged last week after the SEC accused Musk, 47, of fraud over "false and misleading" tweets on August 7 that promised to take Tesla private and said funding had been secured. If the settlement is struck down, the SEC would likely move towards enforcement-it's unlikely they would be as lenient in that case.

The settlement also required Tesla's board to implement procedures for reviewing Musk's communications with investors, which include tweets.

But some former SEC officials and legal experts were divided over whether Musk's comment had crossed a legal line.

But, after seeing the consequences of it, I think he must be careful about his tweets.

He compared several of CEO Elon Musk's recent actions to Lehman's threats toward short sellers and refusals to raise capital.

Murdoch, who owns roughly 10,000 shares of Tesla also serves on the boards of Sky, TrueX Media, 21st Century Fox, New Corp, and Yankee Global Enterprises, as well as a handful of arts organizations, according to Bloomberg data.

The SEC charged Musk with misleading investors with the tweet, saying it had no basis in fact.