The Board of the International Organization of Securities Commissions today published a final report on Special Purpose Acquisition Companies (SPACs), which aims to help IOSCO members review or improve their approach to these companies.
Jean-Paul Servais, Chairman of the Financial Services and Markets Authority and Chair of the IOSCO Board, said: “The SPAC boom of the last couple of years raised a host of issues related to investor protection and fair, orderly and efficient markets. While the boom may be over, it is important that we now take stock of whether there are any lessons to be learnt from the recent experiences with SPACs. This report in particular develops a toolkit that IOSCO members may use to help them to monitor, assess or review their approach to SPACs and will be of use when issues around SPACs arise again in the future.”
The press release of IOSCO is available via this link.