Giving shares to a promoter to pump your stock violates SEC regulations and is certainly actionable against both parties, particularly when neither party discloses the transaction.
I still haven't seen a specific SEC regulation.
You seem to be implying, but you did not state, that you were referring to a "pump and dump" scam.
My point is that "pumping" or "promoting" by itself and taking compensation in stock is not against any SEC regulation.
I believe where Williams has a problem is that he was also giving trading advice to specific people.