Cantor Fitzgerald Settles SEC Charges for Misleading SPAC Disclosures

The SEC has charged Cantor Fitzgerald with causing two SPACs it controlled to make misleading statements to investors before their IPOs, resulting in a $6.75 million civil penalty. The SPACs, CF Finance Acquisition Corp. II and CF Acquisition Corp. V, falsely claimed in SEC filings that they had not engaged in discussions with potential merger targets, despite having done so. Cantor Fitzgerald agreed to settle the charges without admitting or denying the findings.