Brexit-related disclosures on the rise

Author: Lizzie Meager | Published: 17 Oct 2016

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 later arise.

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 note by 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 or companies...