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The Securities and Commodities Authority (SCA) made available on its website a 21-article draft regulation on special purpose acquisition companies (SPACs) to take public comment and solicit input from the financial industry and stakeholders.
It announced on the website that the public comment period will close on November 22, 2021, and that comments and input should be emailed to SPAC@sca.ae only.
The SCA said that the draft posted on its website is preliminary only, explaining that some provisions may be amended at the time of release of the final version. It also remarked that the regulations will be introduced once the necessary amendments are incorporated in the Commercial Companies Law.
The draft regulation may be accessed on the SCA’s website via this link: Click here
