Is ESG reporting ready for its closeup? financial-planning.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financial-planning.com Daily Mail and Mail on Sunday newspapers.
What is SPAC vs IPO vs Primary Direct Listing? (and why Grab chose SPAC) asiaone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaone.com Daily Mail and Mail on Sunday newspapers.
In the finance world, Special Purpose Acquisition Companies (SPACs) are proliferating like Dutch tulips. This year alone, they’ve exploded in popularity, with multitudes of celebrities, politicians, and influencers sponsoring SPACs of their own. The list includes the likes of Colin Kaepernick, Shaquille O’Neal, Alex Rodriguez and Tony Hawk. Even amidst new concerns from the SEC, which reportedly opened an inquiry into the investment risks of SPACs and issued a bulletin warning prospective investors to exercise caution investing in celebrity-sponsored SPACs, SPACs have raised staggering amounts of capital. SPACs’ attractiveness to investors stems from a similar surge in capital invested in private equity, which gobbled up over half of all publicly traded companies over the past two decades. As a result, there is pent-up appetite for publicly traded investment in general and, in particular, in the kinds of early stage or smaller cap companies that are often the targets of SPACs. Yet with over 400 SPACs currently in the hunt for acquisitions or investment opportunities, market observers have commented that the target pool may increasingly comprise companies not quite ready for life as a publicly traded entity. When that reality manifests in adverse disclosures or disappointing financial returns, stock prices drop and securities suits are filed. Combine less sophisticated retail investors looking for higher returns and some SPACs pursuing lower quality companies, and it is not surprising that the SEC is scrutinizing the sector. Indeed, the currently overheated SPAC environment could instigate more failed investments and stock price drops, leading to a wave of new securities litigation.
Apr 06 21 Investment Company Institute President & CEO Eric Pan spoke earlier this week on Observations About the March 2020 Turmoil and Regulated Funds at The Harvard Law School Forum on Corporate Governance. Pan says, I would like to speak with you today about the discussions US and international policymakers are having about the March 2020 market turmoil and their work to make the financial markets more resilient in the face of a similar liquidity shock. Such work is taking place in international bodies like the Financial Stability Board (FSB) and International Organization of Securities Commissions with the active participation of US financial regulators. For those familiar with the regulatory debates following the 2007-09 global financial crisis, these discussions should give you a sense of dĂŠjĂ vu. Regulated funds, including money market funds and long-term open-end funds, such as bond funds, are being closely scrutinized for systemic vulnerabilities. Indeed, some commentators have gone as far as to argue that the market events of March 2020 indicate that the business models of these funds should fundamentally change because they contend that these funds are unsafe for the global financial system in the absence of a central bank liquidity backstop.
Meet the "New Koch Brothers" – the Hedge Fund Activists Wrecking America's Green New Deal nakedcapitalism.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nakedcapitalism.com Daily Mail and Mail on Sunday newspapers.
NationofChange Wealthy predators are playing stock market games with companies needed to develop and produce clean technology. Think the government should do more to deal with climate change? Youâre not alone â so do most Americans, according to a 2020 Pew poll. With Biden in the White House and Democrats controlling Congress, plans to get moving on some form of a Green New Deal could finally emerge. The Texas blackout heightened the sense of urgency, and everybodyâs talking about upgrading the power grid, renewable energy, and what it will take to have a greener, cleaner future. Meanwhile, the climate change-denying political right is determined to crush any proposals before they have a chance.
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For decades, authorities and experts have tried restricting excessive borrowing by private equity investors, since it’s been repeatedly shown that they leave lots of bankruptcies in their wake. And these abuses continue because private equity looting fee structures result in general partners making out handsomely whether or not the business does well. In 1987 (no typo), the Treasury proposed limiting the deduction of interest on highly leveraged transactions. That idea went by the wayside thanks to the 1987 crash. Other proposals to restrict debt levels have similarly not gone anywhere. Yet now an important ruling looks set to deliver where regulators and legislators have failed.
Article content We’re taught at an early age to never sign a blank cheque. Today, blank-cheque companies, or what are called special purpose acquisition companies, are driving the red-hot IPO market in the U.S. SPACs have been around for a long time but 2020 was their coming out party. They raised US$82 billion, well above the 2019 number (US$13 billion), and almost as much as conventional IPOs. We apologize, but this video has failed to load. Try refreshing your browser, or When it comes to SPAC investing, the house always wins. The public, not so much Back to video SPACs are mostly a U.S. phenomenon whereby high-profile investment managers, rock star executives and actual rock stars raise money based on reputation alone. They create a shell company with the intention of using the cash to buy a business.
Betting on âblank checkâ companies Thimble Point joins growing ranks of so-called SPACs that go public despite owning nothing By Scott Kirsner Globe Correspondent,Updated February 18, 2021, 3:38 p.m. Email to a Friend The Nasdaq exchange has a presence in New York s Times Square via its digital billboard.HIROKO MASUIKE/New York Times These are strange days for the stock market. You can take a company public without actually having a business, customers, or revenue. And if youâre Woody Benson, you can do it from the master bathroom of your home in Bonita Bay, Fla., showing slides over Zoom to prospective investors.