The SEC charged global financial services firm Cantor Fitzgerald, L.P. with causing two special purpose acquisition companies (SPACs) that it controlled to make misleading statements to investors ahead of their initial public offerings (IPOs). In SEC filings, the firm stated that neither the SPAC nor anyone acting on its behalf had initiated any substantive discussions or contacts regarding prospective target businesses, when in fact such discussions were ongoing at the time of such filings. Cantor Fitzgerald agreed to pay a $6.75 million civil penalty to settle the SEC’s charges. While the level of SPAC activity has subsided from prior years, the recent SPAC rulemaking that was finalized in July 2024 and this case highlight that the SEC is still focused on the adequacy of disclosures in SPAC offerings and transactions.