Bass, Berry & Sims attorney Jay Knight offered insight for a Wall Street Journal article on the recent request from the Securities and Exchange Commission (SEC) that companies disclose the financial impact of the Russian-Ukraine conflict. Following the sanctions issued against Russia following its invasion of Ukraine, many companies grappled with the direct and indirect impacts. The SEC staff recently sent targeted letters to specific companies asking for more disclosure about the reasonably likely impacts from the Russia/Ukraine conflict, including financial impacts.
As Jay points out, “The letters remind companies to consider how current events might aﬀect their results and ﬁnancial condition. There’s just more exposure in helping to identify the trends and drivers of results. For companies, sometimes it’s very challenging to quantitatively ﬁgure out the ﬁnancial impact of things like that.”
The full article, “SEC Seeks More Details From Companies on Russia-Linked Losses, Risks,” was published by The Wall Street Journal on July 26 and is available online (subscription required).