SEC Issues Exposure Draft of Its Proposed New Rule on Special Purpose Acquisition Companies


Tuesday, December 07, 2021 / 05:45 PM / By SEC Nigeria / Header Image Credit: Motley

The Securities and Exchange Commission (SEC) has issued an exposure of its new rule on Special Purpose Acquisition Companies (SPACs) and proposed an amendment to its rule to rule 3(6)(b) which focuses on time for processing.

Details of the exposure are provided below

Exposure Of New Rule on Special Purpose Acquisition Companies And Sundry Amendments To SEC NG Rules

Summary of Changes

New Rule

1. Proposed New Rule On Special Purpose Acquisition Companies (SPACs)

Sundry Amendment

2. Proposed Amendment to Rule 3(6)(b)- Time for Processing

All comments and input should be forwarded by e-mail to the Secretariat, Rules Committee of the Commission, at or by letter addressed to the Director-General, SEC, not later than two (2) weeks from date of publication.

Download PDF Document Here

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