1-Hour Program

See Credit Details Below

Overview

The coronavirus SARS-CoV-2 (“Virus”)  that can cause coronavirus disease 2019 (“COVID-19) has impacted and will continue to impact  businesses in a way to trigger SEC disclosure obligations.  Providing clarity on SEC obligations may assist professionals to move more quickly to the humanitarian and personal side of this Virus.  Please join N. Adele Hogan, partner at Nelson Mullins Riley & Scarborough LLP, as she discusses:

  • Business and Financial Reporting Impact of the Virus
    • Overview of SEC guidance
    • How to disclose the financial performance impacts from the Virus, including information on companies’ suppliers and customers
    • Ways to handle material known trends and uncertainties in Management’s Discussion and Analysis (“MD&A”) and risk factor disclosure about the Virus
    • What is the timing for when SEC update obligations triggered
  • Labor and Employment Disclosures
    • What disclosures are needed for Virus-related labor and employment matters
    • Enhancing policies about how more work can be done remotely
    • Key person provisions in contracts
    • Insider trading policies
    • Blackout periods in trading

  • Regulatory and Litigation
    • How are other regulations, such as privacy, HIPPA, California Consumer Protection Act (“CCPA”), etc. impacted
    • How to disclose disputes, litigation, breaches of contract, force majeure and insurance related to the Virus
  • Non-GAAP and Forward-Looking Disclosures
    • When can non-GAAP information be provided to explain the financial impacts of the Virus
    • What are the considerations around forward looking information provided about the Virus’ likely impact

  • Security and Cybersecurity
    • How to protect assets if normal security protocols break down with reduced staffing, etc.
    • How to disclose cybersecurity matters in a stressed environment

  • Contingency planning
    • Postponing in person shareholder meetings if there is an outbreak
    • SEC disclosure about the health of executives or board members
    • Inability to obtain governmental related services or services from various geographies
    • Backup systems and resiliency of remote working situations
    • How to deal with missed regulatory or litigation filing deadlines at the SEC or elsewhere
    • Ways to improve contingency planning with table top exercises

  • M&A and Stock Market Volatility Related to the Virus
    • Protections from hostile takeover bids
    • Stock volatility
    • Repricing options, 10b5-1 plans and other issues

  • Extreme Financial Virus Impacts
    • Restructurings, liquidity problems, “going concern” statements, zone of insolvency, and bankruptcy disclosure obligations
    • Accounting issues around reserves, backlogs, channel stuffing, pricing, etc.

  • Other

 

Program Level: Update 

Intended Audience:  Attorneys and accountants who deal with SEC reporting and disclosure and accounting issues, including in-house counsel, outside attorneys, CFOs, controllers and their staff, internal auditors, partners of public accounting firms and their staff,  consultants and regulators 

Prerequisites:  None 

Advanced Preparation:  None

 

 

 

 

 

Credit Details

You May Also Like