In today’s edition of Daily Compliance News:
Tag: SPACs
Welcome to the only roundtable podcast in compliance. The entire gang was also thrilled to be honored by W3 as a top talk show in podcasting. In this episode, we have the quartet of Karen Woody, Jonathan Armstrong, Matt Kelly and Jay Rosen. We end with a veritable mélange of shouts outs and rants.
1. Karen Woody looks at a recent panel of two consisting of the current and most recent chair of the SEC, Gary Gensler and Jay Clayton respectively. Karen shouts out to the Indianapolis Motor Speedway.
2. Jay Rosen considers telemedicine and telehealth coming out of the pandemic. Rosen rants about Tampa Bay receiver Antonio Brown who misrepresented his vaccination status by presenting a fraudulent shot card to the Bucs.
3. Matt Kelly looks at recent imbroglios involving SPACs, their inherent conflicts of interest and corporate governance issues. Kelly has a Shout Out to the Women’s Tennis Association for their pulling their tennis tournaments out of China in the wake of the Chinese government’s treatment of Peng Shuai after she raised issues of sexual harassment against a high-ranking Party member.
4. Jonathan Armstrong takes look at a recent UK data privacy enforcement action against the UK government due to the release of Personal Identifiable Information. Armstrong shouts out to the EU Public Prosecutors Office.
5. Tom Fox has his first dual rant/shout out. He rants about MLB locking out the players, particularly the inanity of doing so during the offseason. He shouts out to Houston Chronicle sports columnist Brian Smith for editorializing that MLB should use this time to fix the game of baseball, instead of trying to simply save a few pennies.
The members of the Everything Compliance are:
• Jay Rosen– Jay is Vice President, Business Development Corporate Monitoring at Affiliated Monitors. Rosen can be reached at JRosen@affiliatedmonitors.com
• Karen Woody – One of the top academic experts on the SEC. Woody can be reached at kwoody@wlu.edu
• Matt Kelly – Founder and CEO of Radical Compliance. Kelly can be reached at mkelly@radicalcompliance.com
• Jonathan Armstrong –is our UK colleague, who is an experienced data privacy/data protection lawyer with Cordery in London. Armstrong can be reached at jonathan.armstrong@corderycompliance.com
• Jonathan Marks is Partner, Firm Practice Leader – Global Forensic, Compliance & Integrity Services at Baker Tilly. Marks can be reached at jonathan.marks@bakertilly.com
The host and producer, ranter (and sometime panelist) of Everything Compliance is Tom Fox the Voice of Compliance. He can be reached at tfox@tfoxlaw.com. Everything Compliance is a part of the Compliance Podcast Network.
Categories
Red Flags and SPACs
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. Today, Matt and Tom take a deep dive into several issues regarding Special Purpose Acquisition Companies (SPACs).
Some of the issues we consider are:
- What did the Klausner and Olhrogge Research Paper show about conflicts of interest?
- What did Calcbench analysis show about not only the number of SPAC filings but how they are driving the dramatic increase in M&A activity.
- What are the corporate governance issues involved in with SPACs?
- What are the internal controls issues involved with SPACs?
- What has (or will) the Delaware Supreme Court have to say.
- What have been the pronouncements from the SEC?
Resources
Matt in Radical Compliance, Paper Raises Red Flags on SPACs Governance
Categories
SPACs and Compliance
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. This week Matt and Tom take a deep dive into the recent spate of SPACs which have formed and are gobbling up companies through acquisition. What does it mean from the internal control, risk management and compliance perspective?
Some of the issues we consider are:
- What are SPACs?
- Do SPACs render controls ineffective?
- What are the requirements under SOX 404b for SPACs?
- Do SPACs create an inherent conflict of interest between management and shareholders?
- What does this mean for compliance officers?
Resources
Matt’s blog post on Radical Compliance:
SPACs Draw Internal Control, Governance Concerns
