SEC Charges Cantor Fitzgerald With Causing 2 SPACs To Make Misleading Statements

The Securities and Exchange Commission on Thursday charged financial services firmCantor Fitzgerald, L.P.with causing two special purpose acquisition companies that it controlled to make misleading statements to investors ahead of their initial public offerings.

The SEC's Order states that a team of Cantor Fitzgerald executives controlled two SPACs in 2020 and 2021 which raised $750 million from investors through IPOs. The SEC's order finds that Cantor Fitzgerald caused the SPACs in their SEC filings to deny having had contact or substantive discussions with potential business combination targets...