`Blank Check' IPOs Alarm NASD
`Blank Check' IPOs Alarm NASD
Amid Resurgence of Unnamed Deals type of initial public offering that vanished in the 1990s in a wave of scandals is making a comeback, and regulators say they are concerned investors may be defrauded again. NASD, which polices more than 5,000 U.S. brokerage firms, says it is investigating the resurgence of ``blank checks'' -- shell companies that raise money in public markets without saying what they will spend it on.
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Amid Resurgence of Unnamed Deals type of initial public offering that vanished in the 1990s in a wave of scandals is making a comeback, and regulators say they are concerned investors may be defrauded again. NASD, which polices more than 5,000 U.S. brokerage firms, says it is investigating the resurgence of ``blank checks'' -- shell companies that raise money in public markets without saying what they will spend it on.
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posted by Victor Lloyd Smith @ 1:57 PM
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