DOGE targets SPAC oversight under SEC, report says
The Department of Government Efficiency (DOGE) has a new target, and this time it won’t be just firing federal workers. The agency formed by Tesla CEO Elon Musk at the start of the Trump administration wants to roll back more regulations.
DOGE officials at the U.S. Securities and Exchange Commission (SEC) reportedly held meetings to reduce regulations, especially those surrounding Special Purpose Acquisition Companies (SPACs), as reported by Reuters. Under the Biden administration, the SEC doled out numerous fines to companies over a lack of disclosures, misleading statements, and even fraud allegations to one SPAC linked to President Donald Trump.
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