In recent years the FinTech industry has experienced significant changes on every front, from increased regulatory requirements to growing investor expectations. In this article, Eric Johnson, DFIN’s president of Global Investment Companies, addresses the top issues facing fund and asset companies heading into 2022.

At this time last year, the outlook for 2021 was heavily influenced by the global pandemic and how FinTech companies were pivoting to meet shifting needs. How did DFIN see that play out over the last 12 months?

The Five Things Every Private Company Should Know

Private companies are not required to make specific Environment, Social and Governance (ESG) disclosures. Why, then, do so many of them dedicate substantial time and resources to these issues? And why is ESG important to investors?

DFIN Supports Reintroduction of the Financial Transparency Act (FTA) to Help Bring Financial Transparency to Financial Markets and Foster Economic Growth and Capital Formation for Industry

I’ve been in the financial industry a long time. Some may disagree, but I believe in transparency. I believe it enables businesses, organizations—and governments—to work better, together.

With the tragic Covid-19 pandemic since last year, the emergence of remote-based work is now fully upon us. Like any working environment, this “new normal” has its plusses and minuses. Viewing the glass half-full, remote work has allowed employees the chance to spend less time commuting and more time on productivity. On the other hand, it can be difficult to achieve the same level of personal camaraderie amongst a project team, for instance, when all of its members are physically separated.

The special purpose acquisition company (SPAC) market has boomed over the past several years, with continued increases in IPO activity and record completions of de-SPAC transactions. More than 50% of total IPOs in 2020 were SPACs, this represents a 4x increase from the previous year. As of March 25, 2021, 445 SPACs have filed with the SEC with 296 SPACs pricing, raising over $89 billion*. This surpasses 2020's record number of 248 SPACs raising over $76 billion* for the full year of 2020.

Author: Craig Clay

SPAC records were crushed in Q-1 by count and value with roughly $88B raised from 298 SPACs, more than all of last year’s record volume. With the news today of a potential change in accounting for some SPACs recommended by the SEC – what will happen to the robust pipeline of more than 260 SPACs looking to make their debut?

Craig Clay, president of global capital markets at Donnelley Financial Solutions (DFIN), a Chicago-based financial compliance company, speaks with Acuris Capital Intelligence about virtual data rooms—one of their core products—post-COVID-19 as well as its partnership strategy.

Interview by Rachel Stone 

Q. What has changed in the M&A process during the pandemic? 

Donnelley Financial Solutions [NYSE:DFIN], a risk and compliance solutions company, could seek partnerships to further build out its technology offering, said Craig Clay, president of global capital markets.

The Chicago-based company could turn to partnerships rather than acquisitions as assets can be “pretty expensive,” Clay said. On its path to becoming a one-stop shop for transactions, it could, for instance, consider partnering with a market leader in US Food and Drug Administration (FDA) approvals, he added.

The adoption of technology for M&A due diligence has already been on the rise since the pre-Covid times. The Covid-19 global pandemic has forced dealmakers globally to accelerate the adoption of technology such as drones, cloud-computing and AI to enable virtual due diligence. A growing number of M&A professionals understand and appreciate the benefits of technology for their transactions, and advanced technologies such as cloud-based solutions is now allowing 24/7 access to crucial deal documents from anywhere in the world.

On December 11, 2020, the Securities and Exchange Commission (the “SEC") adopted a new Rule 15 under Regulation S-T regarding the administration of the Electronic Data Gathering, Analysis, and Retrieval (“EDGAR") system.  Rule 15 was designed to promote the reliability and integrity of EDGAR submissions. 

The SEC has not yet provided full disclosure about the specific processes required to achieve these actions, but the new rule includes actions for the following items: