FCA: Publishes final rules to strengthen investor protections in Spacs
- FCA has published final rules and changes to its Listing Rules for certain special purpose acquisition companies (SPACs)
- Consulted on proposals to remove the presumption of suspension for SPACs that meet certain criteria
- The proposed changes were designed to provide an alternative approach for SPACs that must otherwise provide detailed information
- The additional investor safeguards that will require SPACs to provide in order to benefit from the alternative approach include
- SPAC issuers unable to meet the conditions, or those choosing not to, will continue to be subject to a presumption of suspension
- The final rules aim to provide more flexibility to larger SPACs, provided they embed certain features
