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Nathaniel Lalone Shares Disclosure Risks for Public Companies Following Brexit

Firm News | February 7, 2019

Financial Services partner Nathaniel Lalone spoke with Law360, noting that public companies based in the UK or conducting commerce with the EU will need to adjust disclosures in anticipation of Brexit, even though the outcome remains unknown. Nate stated, "Given the unusually extreme level of uncertainty around Brexit, it's no wonder issuers are being a bit cagey in how they describe the risks in their disclosure, nor frankly is it surprising that the SEC might want a more granular discussion." He added, "To some extent, [regulators and public companies are] both right. It's not necessarily fair to expect an issuer to detail the consequences of every possible Brexit scenario, but on the other hand, the SEC has a point that Brexit is an event with such a potential market impact, it's probably not sufficient to include only a few vague sentences." ("Companies Urged To Clarify Risks As Brexit Deadline Looms," February 6, 2019)

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