CFA Institute and BETTER FINANCE address the recent boom of SPACs in a joint research report that brings a pragmatic view of the issues facing European retail investors and investment professionals that are considering a move into this rapidly evolving (and for many, unfamiliar) territory. Roberto Silvestri, Josina Kamerling and Edoardo Carlucci discuss the possible role of SPACs in the context of the Capital Markets Union (CMU) in the EU, and the main regulatory issues concerning transparency and information disclosure, investor protection, and supervision.