U.S. SPAC gatekeepers to face tougher disclosure rules around fees, conflicts - SEC Chair

The chair of the U.S. Securities and Exchange Commission said on Thursday that the regulator is considering new disclosure rules around special purpose acquisition companies' (SPAC) fees, projections, dilution, and conflicts.

Gary Gensler, in a keynote address to investor advocates, said the new rules would address concerns about SPAC transitions to initial public offerings by strengthening obligations of 'gatekeepers' who facilitate such fundraising.