Elon Musk has once again proved he will do things his way, and has canceled his $44 billion deal to buy Twitter

The question is: how do you regulate a man worth more than $200 billion who believes he knows best? No.

In a series of tweets between Musk and the company, the drama surrounding the deal continues.

In 2013, the SEC ruled that public companies can disclose material information on Twitter and other social media platform

To someone with Musk's wealth, the financial penalties imposed by regulators or business partners mean little.

Musk acquired almost 10% of Twitter's stock - without making the legally required timely disclosure.

Twitter shares rose even before he announced his intention to buy the platform and take it private.

Musk saved $143 million by holding his stock in Tyler, a University of Pennsylvania accounting professor.

Last week, the Wall Street Journal reported that the SEC is probing Musk's late reporting of his stake in Twitter.

"I think it might be laziness or a belief that rules do not apply," Taylor said. When the SEC enforces late filing, it's rare.