FCA Eyes New Rules For SPAC Stock Listings To Rival US
Law360, London (March 31, 2021, 12:58 PM BST) -- The Financial Conduct Authority said on Wednesday that it plans to finalize rules by summer for London stock exchange listings aimed at attracting special purpose acquisition companies, in an attempt to pull level with U.S. regulations.
The City watchdog said that it plans to consult on amendments to the national Listing Rules that would loosen regulations for so-called SPACs. The "blank check companies" are formed solely to raise capital during an initial public offering and then acquire an existing business that is looking for an alternative way to list on a stock exchange.
The FCA said on Wednesday that it will...
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