arrow_back Back to App

Increased transparency for blank check companies and investors.

This act aims to increase transparency for investors, especially individual ones, regarding blank check companies (special purpose acquisition companies). With new rules, citizens will have better insight into how much cash a company holds before a merger and what fees and payments are received by parties involved in the transaction, helping them make informed investment decisions.
Key points
More information on cash held by blank check companies before a merger, under various scenarios.
Disclosure of any side payments and agreements to sponsors, investors, and other parties, including their impact on share value.
Rules are designed to make information clearer and easier for ordinary investors to understand.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_1504
Sponsor: Sen. Kennedy, John [R-LA]
Process start date: 2021-04-29
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Sponsor Promote and Compensation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1504.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-29.

What are the main provisions?

Key points include:

  • More information on cash held by blank check companies before a merger, under various scenarios.
  • Disclosure of any side payments and agreements to sponsors, investors, and other parties, including their impact on share value.
  • Rules are designed to make information clearer and easier for ordinary investors to understand.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Kennedy, John [R-LA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy