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Gensler Targets SPAC Disclosures as SEC Considers Tougher Rules

Gary Gensler
Gary GenslerPhotographer: Andrew Harrer/Bloomberg

U.S. Securities and Exchange Commission Chair Gary Gensler laid out a laundry list of concerns over special purpose acquisition companies, delivering his strongest signal yet that he’ll push for much tougher rules for the blank-check firms. 

Gensler, who’s repeatedly raised issues with SPACs since taking over in April, gave a road map Thursday for areas where the regulator may need to step up regulation. He said he’s concerned that retail investors putting money in a firm taken public by merging with a blank-check company may be at a disadvantage compared with backing a traditional initial public offering.