U.K. Revises SPAC Rules to Attract Listings to London Market
- Financial Conduct Authority pushes ahead with reforms
- Minor tweaks to proposals to help larger SPACs raise money
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Britain’s financial watchdog revised rules for blank-check firms in a bid to attract listings, even as the boom in the market begins to falter.
The Financial Conduct Authority confirmed Tuesday it will no longer require special purpose acquisition companies, or SPACs, to suspend their listing when they reveal their deal plans -- removing one of the roadblocks that kept London out of the fundraising rush last year.