Credit Suisse Group AG has formed a new committee to assess its involvement in blank check-firm mergers as underwriters face the prospect of heightened liability under proposed financial regulations, Bloomberg reports, citing a person with knowledge of the matter.
The Swiss lender told staff in a memo that the “tactical deSPAC committee” will focus on pending mergers involving U.S. special purpose acquisition companies, said the person, requesting anonymity discussing the move. Any transaction must be approved by both the new committee and the firm’s investment banking committee, the person said.
This follows a report that Citigroup has paused its SPAC activity. Read more.
