The Financial Conduct Authority (FCA) has begun work to strengthen protections for investors in Special Purpose Acquisition Companies (SPACs), following the recommendations of the Lord Hill listings review earlier this month.
Professional investors broadly welcomed Lord Hill's 3 March Listing Review recommendations, which included liberalising listing rules for SPACs, with expectations that the changes would help to grow the number of listed equity opportunities available in the UK. The FCA said in a statement published on Wednesday (31 March) that it will soon be consulting on amendments to its listing rules and related guidance to strengthen protections for SPAC investors. It follows a recent surge in SPAC activity, the full-year annual record of 256 SPAC IPOs set in 2020 already surpassed this year, wit...
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