A special purpose acquisition company settled SEC charges for failing to disclose discussions with a target company and its controlling shareholder about a potential business combination prior to and during the IPO process.
News & Insights
The SEC adopted rules to impose a comprehensive regulatory scheme on special purpose acquisition companies ("SPACs") and their subsequent de-SPAC transactions with the stated purpose of aligning the regulation of SPACs more closely with more traditional initial public offerings.
In a letter to SEC Chair Gary Gensler, U.S. Senators Kevin Cramer (R-ND) and Shelley Moore Capito (R-WV) asserted that the SEC lacks the authority to finalize a rule requiring companies to disclose their greenhouse gas emissions and other disclosures to the public.
A broker-dealer settled FINRA charges for failing to disclose material information to investors when selling certain limited partnership interests in a private placement.
Director of the SEC Division of Corporation Finance Erik Gerding highlighted the rationale and mechanics behind the SEC's new rules on disclosure of cybersecurity policies and related incidents.