Wall Street brokerage Cantor Fitzgerald has agreed to pay a $6.75-million penalty to settle Securities and Exchange Commission charges that it misled investors in blank-check companies it controlled, the regulator said on Thursday.
Cantor Fitzgerald did not immediately respond to a request for comment. According to the SEC, Cantor neither admitted nor denied the SEC’s findings.
Blank-check firms, or special purpose acquisition companies (SPACs), are shell companies that raise funds through a listing with the intention of acquiring a private company and taking it public, circumventing the initial public offering process.
According to the SEC, in 2020 and 2021, a team of Cantor
→ Continue reading at CNN - Business News