• Latest
  • Trending
Cryptocurrency discussed by US treasury, financial industry

US senator plans bill to clamp down on blank check deals

Russia evades default through sheer force of will; Kremlin speaks

Russia evades default through sheer force of will; Kremlin speaks

Global economies struggle as oil supplies tighten, volatile stakes

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

People’s Bank and CA Sri Lanka to offer SME Mentoring Program

Russia may be driven into default, Eurobonds due in payment

Russia may be driven into default, Eurobonds due in payment

Asia shares falls on worries over inflation, Fed outlook

An insightful glimpse of the market during the inflation period

Russia’s Sovcomflot managed to strike deals despite sanctions

Russia’s Sovcomflot managed to strike deals despite sanctions

Airbus revives plan for new single-aisle jet plant in Toulouse

Airbus A380 on the roll again, overlooking oil prices

Fed’s stress test on bank health results roll out on Thursday

Fed’s stress test on bank health results roll out on Thursday

King Coffee Wins Two Prestigious Awards at the Global Business Review Awards 2022

King Coffee Wins Two Prestigious Awards at the Global Business Review Awards 2022

Stock and Crypto CFD Are Now Available for Trading on Fullerton Markets’ MT5 Platform

Stock and Crypto CFD Are Now Available for Trading on Fullerton Markets’ MT5 Platform

Global economies struggle as oil supplies tighten, volatile stakes

Global economies struggle as oil supplies tighten, volatile stakes

Global Business Review Magazine
Friday, July 1, 2022
Nominate Here
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine
No Result
View All Result
Global Business Review Magazine
No Result
View All Result

US senator plans bill to clamp down on blank check deals

Cryptocurrency discussed by US treasury, financial industry

YOU MAY ALSO LIKE

Russia evades default through sheer force of will; Kremlin speaks

G7 fixate on stricter sanctions to impose on Russia, oil rates wobble

Democratic U.S. Senator Elizabeth Warren is planning a bill to bound on the special purpose acquisition company, industry. This plan is after a proliferation of bad deals that have often resulted in huge losses for investors. Warren’s forthcoming SPAC Accountability Act of 2022 would increase the legal liability. Which too for a range of parties involved in such deals.
As the lawmakers are focused on the midterm elections, the Warren’s bill may struggle to achieve traction this year. Because this might increase the pressure on the industry. Already, there are new curbs from the U.S. Securities and Exchange Commission. SPACs are shell companies that raise funds through a public listing. Their goal is to accumulate a private company and taking it public.
The targets are allowed during this process to sidestep the stiffer regulatory scrutiny of a regular initial public offering (IPO). Warren also detailed an investigation that she began last year on SPACs and their backers. She stated that this investigation found that Wall Street insiders have used SPACs as their own personal piggy banks. This industry is rife with fraud, self-dealing and inflated fees. The SEC and Congress should still act to confine on these abuses.
Investment banks have raked in billions of dollars feeding the frenzy for SPAC deals. SEC rules proposed in March would largely close current loopholes. This closure is finished by offering SPAC investors protections. By codifying its changes into law, Warren’s bill would rest on the SEC’s proposal. This might lock-up SPAC sponsors. Hence, they’ll be prevented from cashing out before the merged company can produce any of the projected profits.

Tags: financeSecuritiesUnited States
ShareTweetShare
Global Business Review Magazine

Global Business Review is a online print magazine focusing on the updates and information about on emerging markets, Finance, Banking, Technology. Global Business Review provides news, features, analysis, commentary, and interviews from industry across the globe.

Recent News

  • Russia evades default through sheer force of will; Kremlin speaks
  • G7 fixate on stricter sanctions to impose on Russia, oil rates wobble
  • People’s Bank empowers local youth with People’s Spark Entrepreneurship Development Programme
  • People’s Bank and CA Sri Lanka to offer SME Mentoring Program
  • Russia may be driven into default, Eurobonds due in payment

Categories

  • Banking
  • Business
  • Events
  • Finance
  • FinTech
  • Tech
  • Videos
  • About
  • Nominate
  • Privacy & Policy

© 2022 Global Business Review Magazine - All Rights Reserved.

No Result
View All Result
  • Home
  • Banking
  • Finance
  • Technology
  • FinTech
  • Business
  • Videos
  • Events
  • Awards
  • Magazine

© 2022 Global Business Review Magazine - All Rights Reserved.

Go to mobile version