Sector Regulation Sector Regulation

US SPAC participants subject to fines for knowingly misleading statements, SEC official warns

By Neil Roland
  • 09 Apr 2021 16:04
  • 09 Apr 2021 16:23
Special Purpose Acquisition Company participants will be subject to penalties for making intentionally false or misleading statements, said John Coates, the US Securities and Exchange Commission’s acting corporation finance chief.
These suspect statements include disclosure of rosy projections alone, even those based on reasonable assumptions, if another less optimistic scenario,

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Neil Roland

Senior Correspondent


Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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