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Business & Finance

Reuters reveals Wall Street’s blank check IPO frenzy

Reuters broke the news that the 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, in the strongest sign yet that the U.S. Securities and Exchange Commission is stepping up scrutiny of such deals and the banks that underwrite them. Reuters also provided insight on how several leading European startups, including Europe’s most valuable fintech startup Klarna, are steering clear of SPACs, or special-purpose acquisition companies. Their caution, driven by fears over heavy costs and regulation, underscores the potentially risky nature of this innovative form of financial alchemy. 

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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