The Chairman of the FSMA, Jean-Paul Servais, has been appointed by IOSCO, the world organization of financial market regulators, to chair the network within IOSCO on SPACs.
A SPAC or Special Purpose Acquisition Company is a listed vehicle without assets that seeks to merge with an unlisted company – allowing the latter to go public.
The network provides a platform for IOSCO members to monitor and discuss this phenomenon that has raised significant amounts of money over the past year.
During the first virtual meeting of the network held on July 26, 46 members of IOSCO exchanged their experiences on SPACs and discussed the relevant points of attention related to investor protection and market integrity.
The FSMA recently published its opinion on SPACs after a public consultation. ESMA has also published a communication on SPACs.
Read also the press release published by IOSCO.