The Securities and Exchange Commission's Division of Examinations will be looking at special purpose acquisition companies, or SPACs, this year, exam chief Pete Driscoll said Monday.
Also on the exam team's agenda: mutual funds converting to ETFs and nontransparent ETFs, Driscoll said.
SPACs are "becoming so prevalent now; we're a little concerned about that," Driscoll said at the Investment Company Institute's virtual mutual funds conference.
Amy Doberman, partner at Wilmer Cutler Pickering Hale and Dorr, who spoke on a panel with Driscoll, says she's been fielding a lot of questions about "co-investing — given the different stages and different levels of the capital structure — in the whole SPACing and de-SPACing process."