There was no shortage of excitement and drama in the world of SPACs in 2021. The year started with IPOs of hundreds of SPACs in numbers that eclipsed everyone’s expectations. The.
On November 16, 2021, the House Financial Services Committee cleared two proposals geared towards protecting investors and holding accountable offerors in connection with SPAC.
House Financial Services Committee cleared two proposals in connection with SPAC transactions. The first bars investment advisors from marketing SPACs to retail investors; the second excludes certain SPACs from safe harbor protection in place for forward-looking statements.
Two pieces of legislation aimed at imposing additional regulations on special purpose acquisition companies ("SPACs") were recently introduced in the US House of Representatives.