March 22 (Reuters) - Electric vehicle startup Faraday

Future said on Sunday the U.S. Securities and Exchange

Commission has concluded its investigation into the company with

no action against it.

The closure would help the California-based company to

pursue strategic financing and partnerships, after compliance

concerns during the probe made it difficult to work with major

banks and investors, the company said.

Faraday Future had previously disclosed the investigation

related to certain matters involving its 2021 PIPE financing and

SPAC-related transactions, and that the SEC had issued notices

to the company and certain executives.

In March 2022, the SEC subpoenaed some members of Faraday

Future's management team as part of a probe into inaccurate

statements made to its investors after going public the year

earlier.

An internal review in February 2022 identified certain

inaccurate statements, and the company cut the base salaries of

then-CEO Carsten Breitfeld and founder Jia Yueting, asking them

to report to Executive Chairperson Susan Swenson.