SEC Proposes New Disclosure Requirements for SPACs
31 March 2022 Articles
The Securities and Exchange Commission (SEC) recently advanced a set of rules that, if implemented, would make it harder for special-purpose acquisition companies (SPACs) to raise money from investors and execute mergers. Its goal is to force the vehicles to meet similar regulatory standards as initial public offerings, though critics accused the agencies of aiming to end their use altogether.
Bill Dooley, Director of M&A at Morrow Sodali, shared his perspective with Paul Kiernan in an article by The Wall Street Journal on the SEC’s proposal and emphasized that investors, not the SEC, are responsible for due diligence and evaluation of a potential investment, and the proposed SEC rules could be seen as a wide-reaching bid to halt the SPAC market.
Read the full article here.
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