Approximately 400 US-registered public companies included
Brexit-related disclosures in their most recent quarterly
filings with the Securities and Exchange Commission (SEC).
Like in most jurisdictions, US companies are required to
file annual reports with the regulator. But slightly unlike
elsewhere, domestic companies also must update the risk factors
of their quarterly reports for any material changes that may
As well as the 400 companies that included these risk
factors, at least 35 companies also disclosed similar risks in
registration statements filed with the SEC, according to a
Skadden Arps Slate Meagher & Flom.
"What this shows us is that there’s a
consistent reaction across the world," said Skadden partner
Michal Berkner. "It’s not just European companies