Cantor Fitzgerald has agreed to pay a civil penalty of over $6 million to settle charges from the SEC alleging regulatory disclosure violations involving two SPACs. The SEC accused Cantor of misleading investors by falsely claiming in public filings that it had not engaged in substantive discussions with potential merger targets before the SPACs' IPOs. Cantor neither admitted nor denied the allegations. Cantor’s chairman and CEO, Howard Lutnick, has been nominated by President-elect Donald Trump to lead the Commerce Department and serves as co-chair of Trump’s transition team.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Cantor Fitzgerald has agreed to pay a civil penalty of over $6 million to settle charges
00:07from the SEC alleging regulatory disclosure violations involving two SPACs. The SEC accused
00:13Cantor of misleading investors by falsely claiming in public filings that it had not
00:18engaged in discussions with potential merger targets before SPACs IPOs. Cantor neither
00:24admitted nor denied the allegations. Cantor's chairman and CEO Howard Lutnick has been nominated
00:30by President-elect Donald Trump to lead the Commerce Department and serve as co-chair
00:36of Trump's transition team. For all things money visit benzinga.com slash gstv