Howard Lutnick, chief executive officer of Cantor Fitzgerald. Photo: Al Drago/BloombergSEC Issues $6.75M Fine Against Financial Firm Led by Trump's Choice to Lead Commerce Dept.
The SEC said two Cantor Fitzgerald-controlled blank check companies failed to inform investors of ongoing talks with acquisition targets before going public.
December 13, 2024 at 04:14 PM
3 minute read
The U.S. Securities and Exchange Commission levied a $6.75 million fine against Cantor Fitzgerald, the global financial services firm helmed by President-elect Donald Trump’s pick to lead the U.S. Department of Commerce.
The SEC said in its Thursday enforcement order that the New York-headquartered Cantor caused two special purpose acquisition companies, widely referred to as blank check companies, to mislead investors on pending acquisitions in the lead-up to going public.
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