SPACs are shell companies - or "blank check companies" in Wall Street lingo - that list on exchanges with one objective: to find a private company to merge with. Securities and Exchange Commission is already adopting a tougher approach to SPACs, including investigating a deal made by former President Trump's social media company. Gensler's comments, in an interview with NPR, come as the U.S. Gary Gensler, the country's top securities regulator, said he's aiming to announce tougher rules for SPACs by early next year, as he warned about the potential dangers of the hot investment craze sweeping through Wall Street. In an interview with NPR, Gensler said he's aiming to unveil tougher rules for SPACs, a hot trend in Wall Street, by early next year. ![]() ![]() Securities and Exchange Commission Chairman Gary Gensler testifies before the Senate Banking Committee on Sept.
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