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Breaking: SEC’s Corporate Finance Director Calls For Better Regulations Around SPACs Amid Surging Popularity

John Coates, the acting director of the Security and Exchange Commission’s Corporate Finance division has called for scrutiny around Special Purpose Acquisition Company (SPAC) which has turned into a go-to option for companies going public. Coates said,
“The rapid increase in the volume of SPACs represents a significant change and we are taking a hard look at the disclosures and other structural issues surrounding SPACs,”

“The rapid increase in the volume of SPACs represents a significant change and we are taking a hard look at the disclosures and other structural issues surrounding SPACs,” said John Coates, Acting Director of the SEC’s Division of Corporation Finance. https://t.co/3SYLtF2ehj
— SEC_News (@SEC_News) March 10, 2021

The statement comes at a time when the biggest crypto companies including the likes of Coinbase and Bakkt have opted for a SPAC merger for public listing rather than a traditional IPO.
 
This story is being updated
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