SEC committee to hold meeting on proposed rules on climate disclosures and SPACs

On Behalf of | May 5, 2022 | Financial News

A virtual meeting will be held Friday by the Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee to discuss proposed new rules on two separate topics, the SEC said in a news release.

The committee released its agenda for the meeting that will examine the proposals involving climate-related disclosures and Special Purpose Acquisition Companies (SPACs)

Last month, the SEC proposed new rules requiring public companies to disclose climate-related information. The disclosures would include details about climate-related risks that are reasonably likely to have a material impact on firms’ business, results of operations, or financial outlook. The rules would require companies to explain how they intend to manage those risks.

In March, the commission proposed rules and amendments regarding SPACs that would, among other things, enhance disclosures and provide additional investor protections in SPAC initial public offerings and in business combination transactions between SPACs and private operating companies.

The Small Business Capital Formation Advisory Committee said Friday’s meeting would focus on exploring the potential impacts of the proposed rules on smaller public companies and companies seeking to go public. The session will include discussion of factors the SEC should consider when finalizing the rules. The Committee provides advice and recommendations to the SEC on rules, regulations and policy matters relating to small businesses.

The full agenda, meeting materials, and information on how to listen to the meeting are available on the Committee’s webpage.

The attorneys at Lewitas Hyman include former senior attorneys at the SEC whose legal experience and industry knowledge make them uniquely qualified to provide counsel on securities regulatory, compliance and enforcement matters. Additionally, we regularly monitor SEC, FINRA and other self-regulatory organization rule-making activities to help ensure that our clients are aware of any new policies, while assisting them in implementing any recommended changes. If your firm is facing an investigation from a regulatory agency, please contact Lewitas Hyman at (312) 291-4600 or through our online contact form.  

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