In this episode of The SPAC Podcast, Nick Morgan, Partner at Paul Hastings LLP and co-founder of ICAN (Investor Choice Advocates Network), explains how the SEC’s 2024 SPAC rules may affect small sponsors and entrepreneurs navigating the regulatory landscape.
Nick emphasizes that while current SEC leadership may not pursue as many aggressive enforcement actions as in prior years, the rules themselves present challenges. In particular, changes to the PSLRA (Private Securities Litigation Reform Act) safe harbor for forward-looking statements raise serious legal questions.
Commissioner Hester Peirce even voiced concerns in her dissent, suggesting that the SEC may have overstepped its authority with this rule change an area ripe for potential challenge.
For SPAC sponsors and entrepreneurs, the takeaway is clear: the rules may create increased liability exposure for forward-looking disclosures, even if unintentional, making careful legal and compliance planning more important than ever.
Connect with the Guest:
Nick Morgan – Partner, Paul Hastings LLP | Co-Founder, ICAN
LinkedIn: https://www.linkedin.com/in/nicholasrmorgan/
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https://www.thespacpodcast.com/guests/nick-morgan/
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Michael Blankenship LinkedIn:
https://www.linkedin.com/in/mikeblankenship/
Joshua Wilson LinkedIn:
https://www.linkedin.com/in/joshuabrucewilson/
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Disclaimer: Michael J. Blankenship is a licensed attorney and partner at Winston Taylor. Joshua Wilson is a licensed Florida real estate broker and holds FINRA Series 79 and Series 63 licensure. The content of this podcast is for informational and educational purposes only and should not be considered legal, financial, or compliance advice. All views and opinions expressed by the hosts and guests are their own and do not necessarily reflect the policies or positions of any regulatory agency, law firm, organization, or employer. Listeners should consult their own legal counsel, compliance teams, or financial advisors to ensure adherence to applicable regulations, including SEC, FINRA, and other industry-specific requirements. This podcast does not constitute a solicitation or recommendation for any financial products or services.
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