Regulatory Alerts2021-01-01
Board of Directors Decision of the Authority No. (164) of 2021 regarding the licensing of venture capital companies to engage in Special Purpose Acquisition Company (SPAC) activity
The Financial Regulatory Authority (FRA) Board of Directors issued Decision No. (164) of 2021, approving the licensing of venture capital companies to operate as Special Purpose Acquisition Companies (SPACs). This authorization is contingent upon adherence to the Capital Market Law and its executive regulations, as well as any forthcoming executive rules issued by the FRA Board in this regard. The decision will be published in the Official Gazette and on the Authority's website, becoming effective the day following its publication.
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