With the SEC's recently proposed MD&A-focused rule and guidance (effective upon publication in the Federal Register) as a backdrop, Nelson Mullins' timely "SEC Disclosure Considerations for Coronavirus - Risk Factors, MD&A and Other Disclosures, Including Guidance on Labor and Employment Law, Data Privacy and Cybersecurity Considerations" recaps the relevant MD&A disclosure framework and considerations pertaining to coronavirus developments, and flags numerous examples of potential direct and indirect scenarios that may give rise to or shape particular coronavirus-related disclosures.
The memo also identifies potential workforce-related issues - particularly in jurisdictions that provide additional protections to employees who contract the virus, which may implicate disability provisions. Readers are invited to contact the memo's author to discuss industry-specific considerations and associated SEC disclosure guidance.
See our recent report: "Coronavirus Risk Disclosure"; "Apple says it won’t meet quarterly revenue goals due to coronavirus" from The Washington Post; Gibson Dunn's "Coronavirus and Force Majeure: Addressing Epidemics in LNG and Other Commodities Contracts"; DLA Piper's "When is an outbreak an act of God? Mitigating commercial and operational risks during the COVID-19 crisis"; and additional information & resources on our Financial Reporting, Disclosure Reform, and Risk Management & Oversight pages. This post first appeared in the weekly Society Alert!