SEC Wants to Make Sure SPAC Investors Know What They’re Getting Into

WASHINGTON—The speculative mania in special-purpose acquisition companies, better known as SPACs, appears to be dead. Gary Gensler wants to make sure it doesn’t come back to life. The Securities and Exchange Commission, which Gensler chairs, is set to vote Wednesday to adopt rules that seek to make it clearer than before to SPAC investors if they are getting a raw bargain.