On March 30, 2022, the U.S. Securities and Exchange Commission (SEC) approved, by a 3-to-1 vote, a 372-page proposal of numerous rules regarding disclosures and procedural requirements for special purpose acquisition companies (SPACs).
Will private equity get caught up in a SPAC showdown with regulators?
The SPAC market has cooled considerably in recent weeks, with companies that went public by merging with a blank-check entity trading well off their highs, and a growing number of regulatory hurdles emerging for an investment strategy that often dominated financial news headlines in 2020.
New SEC Chair Gary Gensler Could Push For SPAC Regulation
New SEC Chairman Gary Gensler said his enforcement agenda will include heightened scrutiny of SPACs, fintech and cryptocurrency, according to Fox Business.