The SPAC crackdown hasn’t truly begun, but the SEC is obviously considering it MarketWatch 1 hr ago
THERESE POLETTI S TECH TALES
The Securities and Exchange Commission is obviously looking at the explosion of blank-check companies on Wall Street, but isn’t totally cracking down on them yet.
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Seeking to anticipate any potential issues that may result from the current mania for special-purpose acquisition companies, or SPACs, on Wall Street, the Securities and Exchange Commission issued a staff statement last week to remind companies of the rules. That warning followed disclosures of multiple investigations into specific SPACs, which amped up thoughts that the regulatory agency is looking to push back against the newly popular funding mechanisms.