Sen. J.D. Vance of Ohio accused SEC Chair Gary Gensler of using its enforcement powers to harass former President Donald Trump.
Republican Sen. J.D. Vance of Ohio accused Gary Gensler, the nation’s foremost financial regulator of using its enforcement powers to harass former President Donald Trump.
The Ohio Republican raised concerns about the SEC’s recent settlement with Digital World Acquisition Corp. DWAC, -1.39%, the special purpose acquisition company that is planning to merge with Trump Media & Technology Group, which operates the platform Truth Social, in a move that would take the company public.
SPACs are a type of public shell company that raises investor funds with the promise to use those funds to acquire a private company. “It looks more and more like not an impartial regulatory body, protecting investors and consumers, but a regulatory body that’s using its power to silence and immiserate political rivals of the current president of the United States,” Vance said.
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