SEC Adopts Final Rules Enhancing Disclosures and Providing Additional Investor Protections Related to SPACs

Nearly two years after first proposing related to special purpose acquisition companies (), the U.S. Securities and Exchange Commission () has adopted final rules aimed at enhancing investor protections in initial public offerings by SPACs and in subsequent transactions. The final rules require new enhanced disclosure requirements related to SPACs, and include new procedural protections in de-SPAC transactions. The SEC also provided guidance regarding underwriter status in de-SPAC transactions and analysis of a SPAC's potential status as an investment company under the Investment Company Act.
Source: SEC Adopts Final Rules Enhancing Disclosures and Providing Additional Investor Protections Related to SPACs