SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources

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SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources

cnbc2021-03-25

KEY POINTS The SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...

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Comment（15）

Sophiash
·2021-03-25
Hi
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2
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T20211126001
·2021-03-25
Please reply to my comment thanks
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2
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HOCK
·2021-03-25
Of all important things...?‍♂️
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1
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- T20211126001:
  Please help to like my comment
  2021-03-25
  Reply
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Jerrylsh
·2021-03-25
Lol
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1
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LanXana
·2021-03-25
Fck sec!!! Leave the spac alone
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1
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Mm101
·2021-03-25
Yes
Reply
3
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- 進澕:
  ?
  2021-03-25
  Reply
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- Mm101:
  Like
  2021-03-25
  Reply
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egtan
·2021-03-25
Wud....
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4
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- Mm101:
  Yes
  2021-03-25
  Reply
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JacksonLaw
·2021-03-25
Pls like and comment, thanks
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3
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- Jchptan:
  Comment back pls
  2021-03-25
  Reply
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- 進澕:
  ?
  2021-03-25
  Reply
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- Huathk:
  Gd
  2021-03-25
  Reply
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William63900
·2021-03-25
Wxhdsx vgfvhu
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Like
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w8w8
·2021-03-25
onnz
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1
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Zarkness
·2021-03-25
This means volatility for spac space . What do u think?
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2
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Yoxin
·2021-03-25
Ok
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3
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- Yoxin:
  Ok
  2021-03-25
  Reply
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CcccL
·2021-03-25
Oh noooo
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4
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- Chifield:
  shady stuff going on
  2021-03-25
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StansenSG
·2021-03-25
Comment
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- Pltretard:
  Done
  2021-03-25
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StansenSG
·2021-03-25
Please like and comment. Thanks
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4
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- Pltretard:
  Done
  2021-03-25
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- 88huat:
  Ok!
  2021-03-25
  Reply
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The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":358988257,"gmtCreate":1616650587879,"gmtModify":1704796928991,"author":{"id":"3576144379438517","authorId":"3576144379438517","name":"Sophiash","avatar":"https://static.tigerbbs.com/a1acde146a592a0d78eeecc6b7a8292d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3576144379438517","idStr":"3576144379438517"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358988257","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358912163,"gmtCreate":1616649759552,"gmtModify":1704796916580,"author":{"id":"3575955563694893","authorId":"3575955563694893","name":"T20211126001","avatar":"https://static.tigerbbs.com/42cf33544f719c12b3a2aa7e6bd084b1","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3575955563694893","idStr":"3575955563694893"},"htmlText":"Please reply to my comment thanks","listText":"Please reply to my comment thanks","text":"Please reply to my comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358912163","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358919742,"gmtCreate":1616649250686,"gmtModify":1704796910852,"author":{"id":"3574326262963990","authorId":"3574326262963990","name":"HOCK","avatar":"https://static.tigerbbs.com/88799e7ae4e69750fd2f85687a24a9e3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3574326262963990","idStr":"3574326262963990"},"htmlText":"Of all important things...?‍♂️","listText":"Of all important things...?‍♂️","text":"Of all important things...?‍♂️","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358919742","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878476,"gmtCreate":1616649738850,"gmtModify":1680781657034,"authorId":3575955563694893,"author":{"id":3575955563694893,"idStr":"3575955563694893","authorId":3575955563694893,"name":"T20211126001","avatar":"https://static.tigerbbs.com/42cf33544f719c12b3a2aa7e6bd084b1","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358919742,"type":1,"supId":0,"prevId":0,"content":"Please help to like my comment","text":"Please help to like my comment","html":"Please help to like my comment"}],"langContent":"EN"},{"id":358910589,"gmtCreate":1616649138441,"gmtModify":1704796909628,"author":{"id":"3570415893465696","authorId":"3570415893465696","name":"Jerrylsh","avatar":"https://static.tigerbbs.com/7f9695325b124aeb187e181c8c0ccfe6","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3570415893465696","idStr":"3570415893465696"},"htmlText":"Lol","listText":"Lol","text":"Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358910589","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358994087,"gmtCreate":1616647867849,"gmtModify":1704796892643,"author":{"id":"3575362765255061","authorId":"3575362765255061","name":"LanXana","avatar":"https://static.tigerbbs.com/fcb3c0da8a41317a2e0b18356b9f70e1","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575362765255061","idStr":"3575362765255061"},"htmlText":"Fck sec!!! Leave the spac alone","listText":"Fck sec!!! Leave the spac alone","text":"Fck sec!!! Leave the spac alone","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358994087","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358993810,"gmtCreate":1616647257530,"gmtModify":1704796884654,"author":{"id":"3565081661382277","authorId":"3565081661382277","name":"Mm101","avatar":"https://static.tigerbbs.com/01758aa877d9e5a9767d24de3a4e2ff1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3565081661382277","idStr":"3565081661382277"},"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/358993810","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878339,"gmtCreate":1616648298740,"gmtModify":1680781652090,"authorId":3576902230819300,"author":{"id":3576902230819300,"idStr":"3576902230819300","authorId":3576902230819300,"name":"進澕","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358993810,"type":1,"supId":3878217,"prevId":0,"content":"?","text":"?","html":"?"},{"id":3878217,"gmtCreate":1616647267886,"gmtModify":1680781648627,"authorId":3565081661382277,"author":{"id":3565081661382277,"idStr":"3565081661382277","authorId":3565081661382277,"name":"Mm101","avatar":"https://static.tigerbbs.com/01758aa877d9e5a9767d24de3a4e2ff1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358993810,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"}],"langContent":"EN"},{"id":358076850,"gmtCreate":1616645754070,"gmtModify":1704796861392,"author":{"id":"3572044425484197","authorId":"3572044425484197","name":"egtan","avatar":"https://static.tigerbbs.com/6a7ae60d50de6203ec5cee5f6e8f73a6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3572044425484197","idStr":"3572044425484197"},"htmlText":"Wud....","listText":"Wud....","text":"Wud....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358076850","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878218,"gmtCreate":1616647274830,"gmtModify":1680781647255,"authorId":3565081661382277,"author":{"id":3565081661382277,"idStr":"3565081661382277","authorId":3565081661382277,"name":"Mm101","avatar":"https://static.tigerbbs.com/01758aa877d9e5a9767d24de3a4e2ff1","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358076850,"type":1,"supId":0,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"}],"langContent":"EN"},{"id":358047513,"gmtCreate":1616645185532,"gmtModify":1704796854012,"author":{"id":"3558429994510199","authorId":"3558429994510199","name":"JacksonLaw","avatar":"https://static.tigerbbs.com/e2b2e572e31a32129558022e7bef07f0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3558429994510199","idStr":"3558429994510199"},"htmlText":"Pls like and comment, thanks&nbsp;","listText":"Pls like and comment, thanks&nbsp;","text":"Pls like and comment, thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/358047513","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878304,"gmtCreate":1616648062252,"gmtModify":1680781652043,"authorId":3547639144615679,"author":{"id":3547639144615679,"idStr":"3547639144615679","authorId":3547639144615679,"name":"Jchptan","avatar":"https://static.tigerbbs.com/d97f1aa10a314dfb46a4e618e4f46ac6","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358047513,"type":1,"supId":0,"prevId":0,"content":"Comment back pls","text":"Comment back pls","html":"Comment back pls"},{"id":3878343,"gmtCreate":1616648310890,"gmtModify":1680781651983,"authorId":3576902230819300,"author":{"id":3576902230819300,"idStr":"3576902230819300","authorId":3576902230819300,"name":"進澕","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358047513,"type":1,"supId":3878304,"prevId":0,"content":"?","text":"?","html":"?"},{"id":3878429,"gmtCreate":1616649293798,"gmtModify":1680781645533,"authorId":3573472992263411,"author":{"id":3573472992263411,"idStr":"3573472992263411","authorId":3573472992263411,"name":"Huathk","avatar":"https://static.tigerbbs.com/43c7168c646d9ea6805194ed0003f1cc","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358047513,"type":1,"supId":0,"prevId":0,"content":"Gd","text":"Gd","html":"Gd"}],"langContent":"EN"},{"id":358045137,"gmtCreate":1616644983229,"gmtModify":1704796850108,"author":{"id":"3576624565908423","authorId":"3576624565908423","name":"William63900","avatar":"https://static.tigerbbs.com/7a65d8ac327062a52d67f9e0c51fe925","vip":1,"crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3576624565908423","idStr":"3576624565908423"},"htmlText":"Wxhdsx vgfvhu","listText":"Wxhdsx vgfvhu","text":"Wxhdsx vgfvhu","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358045137","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358048634,"gmtCreate":1616644723128,"gmtModify":1704796846395,"author":{"id":"3575859183800572","authorId":"3575859183800572","name":"w8w8","avatar":"https://static.tigerbbs.com/1a305fe39d1c227693a64cc331afda1a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3575859183800572","idStr":"3575859183800572"},"htmlText":"onnz","listText":"onnz","text":"onnz","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358048634","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358056130,"gmtCreate":1616643877020,"gmtModify":1704796834264,"author":{"id":"3572916667219493","authorId":"3572916667219493","name":"Zarkness","avatar":"https://static.tigerbbs.com/4b8c61830c4883c4232aece921d89d14","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":3,"crmLevelSwitch":0,"authorIdStr":"3572916667219493","idStr":"3572916667219493"},"htmlText":"This means volatility&nbsp;for spac space . What do u think?","listText":"This means volatility&nbsp;for spac space . What do u think?","text":"This means volatility for spac space . What do u think?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/358056130","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":358059698,"gmtCreate":1616643414414,"gmtModify":1704796828063,"author":{"id":"3571470148893542","authorId":"3571470148893542","name":"Yoxin","avatar":"https://static.tigerbbs.com/3184024bf3d660bd49cc2158ebd27b3f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3571470148893542","idStr":"3571470148893542"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358059698","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3877724,"gmtCreate":1616643419677,"gmtModify":1680781643750,"authorId":3571470148893542,"author":{"id":3571470148893542,"idStr":"3571470148893542","authorId":3571470148893542,"name":"Yoxin","avatar":"https://static.tigerbbs.com/3184024bf3d660bd49cc2158ebd27b3f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358059698,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"},{"id":358050494,"gmtCreate":1616643364618,"gmtModify":1704796827418,"author":{"id":"3566877420609993","authorId":"3566877420609993","name":"CcccL","avatar":"https://static.tigerbbs.com/27eb54773a8f0b3851def7cabc15cb0e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3566877420609993","idStr":"3566877420609993"},"htmlText":"Oh noooo","listText":"Oh noooo","text":"Oh noooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358050494","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3878448,"gmtCreate":1616649534381,"gmtModify":1680781651210,"authorId":3578976238295519,"author":{"id":3578976238295519,"idStr":"3578976238295519","authorId":3578976238295519,"name":"Chifield","avatar":"https://static.tigerbbs.com/35652f65436cad86ed1f7c0d94afae69","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358050494,"type":1,"supId":0,"prevId":0,"content":"shady stuff going <u>on</u>","text":"shady stuff going <u>on</u>","html":"shady stuff going <u>on</u>"}],"langContent":"EN"},{"id":358023691,"gmtCreate":1616642534313,"gmtModify":1704796815098,"author":{"id":"3578711428062414","authorId":"3578711428062414","name":"StansenSG","avatar":"https://static.tigerbbs.com/103164c3fe87bb229920af5f907dbf60","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3578711428062414","idStr":"3578711428062414"},"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358023691","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3877797,"gmtCreate":1616643938243,"gmtModify":1680781641986,"authorId":3575710348995261,"author":{"id":3575710348995261,"idStr":"3575710348995261","authorId":3575710348995261,"name":"Pltretard","avatar":"https://static.tigerbbs.com/20d7e9e6ca27ec0b458dcd81b8f9909f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358023691,"type":1,"supId":0,"prevId":0,"content":"Done ","text":"Done ","html":"Done "}],"langContent":"EN"},{"id":358023397,"gmtCreate":1616642504819,"gmtModify":1704796814612,"author":{"id":"3578711428062414","authorId":"3578711428062414","name":"StansenSG","avatar":"https://static.tigerbbs.com/103164c3fe87bb229920af5f907dbf60","vip":1,"crmLevel":6,"crmLevelSwitch":0,"authorIdStr":"3578711428062414","idStr":"3578711428062414"},"htmlText":"Please like and comment. Thanks&nbsp;","listText":"Please like and comment. Thanks&nbsp;","text":"Please like and comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/358023397","repostId":1159700090,"repostType":4,"repost":{"id":"1159700090","pubTimestamp":1616641576,"share":"https://ttm.financial/m/news/1159700090?lang=&edition=fundamental","pubTime":"2021-03-25 11:06","market":"us","language":"en","title":"SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1159700090","media":"cnbc","summary":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their sp","content":"<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC opens inquiry into Wall Street’s blank check IPO frenzy: Reuters, citing sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-25 11:06 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3219c1e34771d4a607fc67aee82f7281","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/03/25/sec-opens-inquiry-into-wall-streets-blank-check-ipo-frenzy-reuters.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159700090","content_text":"KEY POINTS\n\nThe SEC in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, four people with direct knowledge told Reuters.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\n\nThe U.S. securities regulator has opened an inquiry into Wall Street’s blank check acquisition frenzy and is seeking information on how underwriters are managing the risks involved, said four people with direct knowledge of the matter.\nThe U.S. Securities and Exchange Commission (SEC) in recent days sent letters to Wall Street banks seeking information on their special purpose acquisition company, or SPAC, dealings, the four people said.\nSPACs are listed shell companies that raise funds to acquire a private company with the purpose of taking it public, allowing such targets to sidestep a traditional initial public offering.\nThe SEC letters asked the banks to provide the information voluntarily and, as such, did not rise to the level of a formal investigative demand, two of the sources said.\nHowever, one of those two people said letters were sent by the SEC’s enforcement division, suggesting they may be a precursor to a formal investigation.\nThis person said the SEC wanted information on SPAC deal fees, volumes, and what controls banks have in place to police the deals internally. The second above source said the SEC asked questions relating to compliance, reporting and internal controls.\nRepresentatives for the SEC did not immediately respond to requests for comment outside U.S. business hours.\nWall Street’s biggest gold rush of recent years, SPACs have surged globally to a record $170 billion this year, outstripping last year’s total of $157 billion, Refinitiv data showed.\nThe boom has been fueled in part by easy monetary conditions as central banks have pumped cash into pandemic-hit economies, while the SPAC structure provides startups with an easier path to go public with less regulatory scrutiny than the traditional IPO route. But the frenzy has started to meet with greater investor skepticism, and has also caught the eye of regulators.\nThis month, the SEC warned investors against buying into SPACs based on celebrity endorsements and said it was closely watching SPAC disclosures and other “structural” SPAC issues.\nInvestors have sued eight companies that combined with SPACs in the first quarter of 2021, according to data compiled by Stanford University. Some of the lawsuits allege the SPACs and their sponsors, who reap huge pay-days once a SPAC combines with its target, hid weaknesses ahead of the transactions.\nThe SEC may be worried about the depth of due diligence SPACs perform before acquiring assets, and whether huge payouts are fully disclosed to investors, said a third source.\nAnother potential concern is the heightened risk of insider trading between when a SPAC goes public and when it announces its acquisition target, the second source added.\n“Wall Street’s biggest banks are being asked: what’s going on?” the person said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3877798,"gmtCreate":1616643945485,"gmtModify":1680781643425,"authorId":3575710348995261,"author":{"id":3575710348995261,"idStr":"3575710348995261","authorId":3575710348995261,"name":"Pltretard","avatar":"https://static.tigerbbs.com/20d7e9e6ca27ec0b458dcd81b8f9909f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358023397,"type":1,"supId":0,"prevId":0,"content":"Done ","text":"Done ","html":"Done "},{"id":3877911,"gmtCreate":1616644883771,"gmtModify":1680781642042,"authorId":3577523199494654,"author":{"id":3577523199494654,"idStr":"3577523199494654","authorId":3577523199494654,"name":"88huat","avatar":"https://static.tigerbbs.com/25dd805cbb44e8ac7c9eb01650c81b9f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":358023397,"type":1,"supId":3877798,"prevId":0,"content":"Ok!","text":"Ok!","html":"Ok!"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":65,"commentSize":15,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}