SEC Division of Corporation Finance Acting Director John Coates argued against claims by commentators that Special Purpose Acquisition Companies face lesser securities law liability in the context of a "de-SPAC" transaction than traditional IPOs.
In a public statement, SEC Commissioners Hester M. Peirce and Elad L. Roisman disagreed with SEC Acting Chair Allison Herren Lee's announcement that the Division of Enforcement would no longer recommend settlement offers conditioned on granting a waiver.
A digital token issuer settled SEC charges for offering and selling securities without registering with the SEC and for making materially false and misleading statements regarding "the viability of its platform and the timetable for the issuance of the tokens."
The SEC adopted amendments to "simplify, harmonize, and improve certain aspects of the exempt offering framework." The amendments expand the availability of exemptions in order to "promote capital formation while preserving or enhancing important investor protections."