On March 10, 2021, the SEC’s Office of Investor Education and Advocacy (OIEA) published an Investor Alert cautioning investors not to make SPAC-related investment decisions based on celebrity involvement alone.  With media coverage of celebrity involvement in SPACs dominating the news cycle for the past week, the OIEA warns investors of the particular risks associated with SPAC transactions, as compared to traditional IPOs, and notes that investment decisions relating to SPACs should not be made on the basis of a “famous” SPAC sponsor or their recommendations.  The Investor Alert recommends investors do their own research, learn about the SPAC sponsors’ backgrounds and financial incentives, and consider the investment’s potential risks.  The OIEA’s Investor Alert and additional resources can be found on the SEC’s website.