Securities and Exchange Commission Chair Gary Gensler is warning companies against seeking a tie-up with a blank-check company as a less arduous path to going public, Bloomberg reports.
Gensler signaled at an event for business executives that Wall Street’s main regulator is on the look-out for firms that want to use SPAC mergers to sidestep red tape associated with traditional IPOs.
Gensler’s comments come as the regulator steps up its scrutiny of firms involved in SPAC deals, including Lucid Group and Digital World Acquisition, which is planning to merge with former President Donald Trump’s media company. Read more.
