Tether-linked Cantor Fitzgerald pays $6.75 million SEC penalty
Cantor Fitzgerald, the Tether-linked broker, agreed to pay the Securities and Exchange Commission (SEC) a $6.75 million penalty yesterday after it was charged with causing two special purpose acquisition companies (SPACs) that it controlled to make misleading statements to investors ahead of their initial public offerings (IPOs) that raised $750 million. The SEC’s Division of Enforcement Acting Director, Sanjay Wadhwa, said that Cantor Fitzgerald “repeatedly” claimed it hadn’t approached merger targets in public filings despite having “substantive discussions with several private companies regarding a potential merger, including with the companies with which its SPACs eventually merged.” The SEC press release notes that Cantor Fitzgerald neither admitted to nor denied the charges levied against it in the order and paid the civil penalty. Tether custodian Cantor Fitzgerald loves Tether, chief says Read more: Why are Tether and Cantor Fitzgerald lending near iden...