What is a SPAC

Unless you have been avoiding financial news and market analysts during 2020 and 2021, you have heard discussions regarding  Special Purpose Acquisition Company(ies) (“SPACs”). SPACs have been around for decades, but their use has recently skyrocketed as companies consider alternative exit strategies during the Covid-19 pandemic, as it created uncertainty on the public and Initial Public Offering (“IPO”) market.… Read More

SEC Division of Examinations Cites Enhanced Focus on Business Continuity Processes, Protection of Retail Investors and ESG-Related Risks Among its 2021 Priorities

The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations (“EXAMS” or the “Division”) released its annual priorities on March 3, 2021 in a 42-page report of exam priorities.  Among other things, the list includes an ongoing emphasis on the overall strength of financial advisers’ compliance programs and a growing interest in the evolving risks to investors related to relevant climate and environmental, social, and governance (ESG) funds.

 

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SEC Proposes Exemptions to Application Procedures

The Securities and Exchange Commission (“SEC”) has announced that it voted to establish an expedited review process for Investment Company Act applications that are substantially identical to recent precedent. Intended to make the application process more efficient by streamlining the process for routine applications and reduce the likelihood that applicants would need to file amendments to applications in response to staff comments.

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