White & Case’s SPAC Group submitted a letter to the SEC providing comments on the regulator’s proposed rules announced in March. The letter offers suggestions for changes where the group believes the proposed rules go beyond the commission’s stated intentions or would impose costs that would significantly exceed any benefits to investors.
SEC Chairman Gary Gensler has noted that the rules “would strengthen disclosure, marketing standards and gatekeeper and issuer obligations by market participants in SPACs, helping ensure that investors in these vehicles get protections similar to those when investing in traditional IPOs.” Read the letter.
