US proposes boosting Spac disclosures, liability to protect investors

March 31, 2022 7:29 AM

WASHINGTON (REUTERS) – Wall Street’s watchdog on Wednesday (March 30) unveiled a draft new rule to enhance blank-cheque company investor disclosures and to strip them of a legal protection critics argue has allowed the shell companies to issue overly optimistic earnings projections.

Source : https://www.straitstimes.com/business/companies-markets/us-proposes-boosting-spac-disclosures-liability-to-protect-investors