The SEC is weighing new protections for investors in SPACs, The Wall Street Journal reports.
SEC Chairman Gary Gensler told the House Appropriations Committee on Wednesday in prepared remarks that his staff is developing ideas for new rules or guidelines for SPACs. Gensler questioned whether the SPAC structure appropriately protects small investors, who piled into the recent trading frenzy in blank-check firms.
“They’ve just taken off like wildfire, you might say, in the last six months,” he told the committee during a question-and-answer session. “There’s real questions about who’s benefiting and investor protection.” Read more.
