On June 30, 2020, SEC Chairman Jay Clayton moderated a virtual
roundtable titled "Q2 Reporting: A Discussion of COVID-19
Related Disclosure Considerations."
He was joined by Corporation Finance Director Bill Hinman and a
high-powered panel, who commented on what they hope issuers will
disclose about the impact of COVID-19 and a wide range of other
topics.
The roundtable follows a succession of recent statements from
the SEC about what issuers should be addressing. In this
memo, we will summarize some themes from the roundtable and
highlight a few key points about preparing disclosure in these
uncertain times.
In a separate memo published today, we
explore some challenges companies face in seeking to quantify the
effects of COVID-19 on their financial performance. We have
also attached as Annex A to this memo a practical checklist of
disclosure topics an issuer should consider in considering whether
it has adequately addressed COVID-19 in its
