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Frequently Asked Questions
  How is the proposed board diversity and disclosure rule applied to SPACs?
Identification Number 1762
SPACs listed under IM-5101-2 would be exempt from the proposed board diversity and disclosure rules. They are not required to provide the disclosure information or to have, or disclose that they do not have, any minimum number of Diverse directors until their business combination.  Following the business combination, such companies must meet, or explain why they do not meet, the applicable diversity objectives by the later of two years from the date of listing or the date the company files its proxy statement or its information statement (or, if the company does not file a proxy, in its Form 10-K or 20-F) for the company’s second annual meeting of shareholders subsequent to the company’s listing, with differing milestones depending on the company’s market tier.
Publication Date*: 2/26/2021 Mailto Link Identification Number: 1762
material_search_footer*The Publication Date reflects the date of first inclusion in the Reference Library, which was launched on July 31, 2012, or a subsequent update to the material. Material may have been previously available on a different Nasdaq web site.
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