SEC investigating Trump SPAC deal to take his social media platform public

SEC investigating Trump SPAC deal to take his social media platform public


The SEC is investigating a SPAC deal involving former President Trump’s nascent social media company. | Photo by Al Drago/Getty Images

Two US regulatory agencies are investigating the special purpose acquisition company (SPAC) that plans to take former President Trump’s nascent social media company public. Digital World Acquisition Corp. (DWAC) said Monday that it has received inquiries for information from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

The SEC is interested in documents related to communications between the SPAC and Trump’s social media venture, including “documents relating to meetings of DWAC’s Board of Directors, policies and procedures relating to trading, the identification of banking, telephone, and email addresses, the identities of certain investors, and certain documents and…

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