SEC gov | Elad Roisman Named Acting Chairman of the SEC sec.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sec.gov Daily Mail and Mail on Sunday newspapers.
Tuesday, December 29, 2020
On December 22, 2020, the staff of the Securities and Exchange Commission s Division of Corporation Finance issued new guidance with disclosure considerations for special purpose acquisition companies ( SPACs ). The new guidance is reflected in CF Disclosure Guidance Topic No. 11 ( Topic No. 11 ). SPACs, or blank check companies, become public reporting companies through initial public offerings ( IPOs ) and raise money for use in the acquisition of one or more operating companies. SPACs have been an increasingly popular structure and, in 2020, there have been close to 250 SPAC IPOs raising over $80 billion in gross proceeds.
The SEC s new guidance follows earlier comments by then-Chairman Clayton, that the compensation and other interests that affect SPAC sponsors, directors, officers, and other affiliates (referred to in this alert collectively as insiders ) should be clearly disclosed so that public investors understand their financial inc
Roisman expected to lead SEC transition as Clayton departs complianceweek.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from complianceweek.com Daily Mail and Mail on Sunday newspapers.
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On December 18, 2020, President Trump signed the Holding Foreign Companies Accountable Act (HFCAA) into law. Later that day, US Securities and Exchange Commission (SEC) Chairman Jay Clayton published a statement providing an update on a planned SEC rulemaking in light of the enactment of the HFCAA. Noting the significant overlap between the HFCAA and the planned SEC rulemaking, Chairman Clayton has directedthe staff to revise the near-final rule proposal to incorporate the congressional mandate.
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December 22, 2020President Trump Signs the HFCAA into Law Prompting SEC to Change Course On December 18, 2020, President Trump signed the Holding Foreign Companies Accountable Act (HFCAA) into law. Later that day, US Securities and Exchange Commission (SEC) Chairman Jay Clayton published a statement providing an update on a planned SEC rulemaking in light of the enactment of
WASHINGTON (dpa-AFX) - Jay Clayton has resigned as chairman of the Securities and Exchange Commission on Wednesday. Clayton previously had said that he would step down by the end of the year.