U.S. SEC Opens Inquiry Into SPACs: Reuters
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The SEC is currently requesting voluntary information from Wall Street banks regarding internal controls and pricing, focusing on due diligence and potential insider trading. This is not a formal investigation yet. The SEC is particularly interested in the gap between when a SPAC lists and when it acquires a company, as insider trading could occur if information about acquisition targets is leaked.
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2 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
How does the SEC's request for voluntary information differ from a formal investigation?
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
What could be considered illegal in the context of SPACs and SEC regulations?
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