The U.S. Securities and Exchange Commission broadens its crackdown on special purpose acquisition companies which critics say has allowed the shell companies to issue overly optimistic earnings projections
The move by the U.S. Securities and Exchange Commission is part of a broader crackdown on special purpose acquisition companies after a frenzy of deals in 2020 and early 2021 sparked concerns that some investors are getting a raw deal.
The rule would require SPACs to disclose more details about their sponsors, their compensation, conflicts of interest and share dilution. The SEC has stepped up oversight of SPACs amid worries of inadequate disclosures and lofty revenue projections. Reuters reported last year that the SEC was considering new guidance to rein in SPACs' growth projections.
If SPACs do not meet certain conditions they may have to register as investment companies, subjecting them to a slew of other rules, the SEC said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Stocks fall, breaking a 4-day winning streak on Wall StreetTechnology companies led stocks lower on Wall Street Wednesday, ending a four-day winning streak for the market.
Leer más »
Can Avalanche Win Over Wall Street and 'Degens' Alike?IN-DEPTH: avalancheavax has emerged from relative obscurity to become a major challenger to Ethereum. At the AvalancheSummit in Barcelona, institutions and degens alike gathered to talk subnets, BUIDL dapps and nibble on jamón ibérico. 0x_bae reports.
Leer más »
Wall Street shakes off a midday slump and ends higherStocks indexes bounced back from a midday slump on Wall Street to finish higher Monday, adding to the market's recent winning streak despite lingering worries about the resilience of the global economy amid surging inflation and geopolitical tensions.
Leer más »
The Wall Street Journal Expands Style OfferingWith its style news desk, it plans to expand WSJ. magazine’s coverage with a new team focusing on fashion, style and culture.
Leer más »
SEC to crack down on blank check companies that overpromise gains to investorsThe SEC proposed a crackdown on blank-check companies known as SPACs. SPACs have no business operations — their only purpose is to acquire a private firm to then list on a stock exchange, allowing that firm to bypass a costlier initial public offering.
Leer más »
SEC proposes new rules, heightened disclosures for SPACsThe SEC is starting the process of putting its foot down on special purpose acquisition companies in the form of a rule change proposal.
Leer más »