FOR IMMEDIATE RELEASE
June 23, 2020
SEC Must Improve Pandemic-Related Risk Disclosures
The SEC has released new guidance on corporate disclosures in light of COVID, which includes a recommendation that companies disclose more information about health and safety policies. We see this as a positive first step toward requiring the disclosures requested in a letter sent to the SEC last week by Americans for Financial Reform and nearly 100 other organizations. Now, the SEC must act to require companies to provide consistent, reliable data to investors about the economic impact of the pandemic on their business, human capital management practices, and supply chain risks.
A group of 98 investors, state treasurers, public interest groups, labor unions, asset managers and securities law experts wrote the SEC on June 16 seeking better disclosures on pandemic-related risks.