SEC Chair Gary Gensler takes aim at SPACs, calls for investor protection

CNBC Television published this video item, entitled “SEC Chair Gary Gensler takes aim at SPACs, calls for investor protection” – below is their description.

Mad Money host Jim Cramer and the ‘Squawk on the Street’ team discuss Securities and Exchange Commission Chair Gary Gensler’s latest criticism of special purpose acquisition companies, or SPACs.

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In This Story: Gary Gensler

Gary Gensler is an American government official and former investment banker serving as the chair of the U.S. Securities and Exchange Commission. Gensler previously led the Biden–Harris transition’s Federal Reserve, Banking, and Securities Regulators agency review team.

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In This Story: Special purpose acquisition companies

A special purpose acquisition company, is a “blank check” shell corporation designed to take companies public without going through the traditional IPO process. SPACs allow retail investors to invest in private equity type transactions, particularly leveraged buyouts. Find out more.

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