U.S. securities regulator is reviewing SPAC filings, has concerns: statement
WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Thursday said it was reviewing filings for Special Purpose Acquisition Companies (SPACs) amid a surge in their popularity, noting concerns around fees, conflicts and sponsor compensation.
Staff "are reviewing these filings, seeking clearer disclosure, and providing guidance to registrants and the public," John Coates, Acting Director of the SEC’s Division of Corporation Finance, said in a statement.
(Reporting by Chris Prentice and Susan Heavey)
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