An SEC official warned about undiscovered issues surrounding fundraising by SPACs, The Wall Street Journal reported Wednesday.
The surge in SPACs is turning up questions that need careful examination, said the acting head of the SEC s Corporation Finance division.
About 300 SPACs have been created this year and have raised about $98 billion.
A top regulator with the Securities and Exchange Commission warned about the jump in fundraising by blank-check companies known as SPACs as there are some significant and yet undiscovered issues, according to a report by The Wall Street Journal.
The issues with SPACs are not something that s going to stop them by any means, but they are relatively as yet incompletely worked through mechanisms, despite the fact they have been around for a while, said John Coates, acting director of the SEC s Corporation Finance division, at a legal conference Wednesday, the WSJ reported.
Alternative Dispute Resolution: Well-Suited To Online Proceedings
abovethelaw.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abovethelaw.com Daily Mail and Mail on Sunday newspapers.
Remote Depositions Keep Cases Moving In Pandemic Times
abovethelaw.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from abovethelaw.com Daily Mail and Mail on Sunday newspapers.