McDermott Comment | SEC Chairman Says SPAC Deals Should Have Same Disclosures As IPOS


Siddhartha Sivaramakrishnan, partner at law firm McDermott Will & Emery, said:

“Chairman Gensler’s remarks should be seen against the backdrop of the SEC’s investor protection mandate and the view that robust disclosure is an effective tool to achieve investor protection. SPAC disclosure standards continue to evolve and closing any perceived disclosure gaps to help investors better understand a particular SPAC proposition should as a general matter be welcomed. But we will need to see the specific rule changes the SEC may in due course propose in this regard before taking a more definitive view on whether these will help or hinder the continued growth of the SPAC market.”