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Listed Company Academy - 15 September 2020

Market Disclosure Risks and Mitigating the Rising Threat of US and UK Securities Litigation

It has been over three years since MAR came into force in the UK and whilst much of the regime now feels familiar, the events of this year have caused issuers to rethink their approaches to disclosure. Additionally, MAR and other disclosures are giving rise to unwelcome exposure in other jurisdictions, particularly the US, not only for companies that are SEC registered but also for those whose shares are traded OTC - whether sponsored or unsponsored. Indeed, in the US, the number of federal securities class action filings against companies headquartered outside the US has significantly increased in recent years, and federal securities filings against such companies in 2020 are on pace to be the highest on record.
In this Listed Company Academy, which was held on 15 September 2020, we updated clients on disclosure trends during the COVID-19 pandemic, FCA enforcement hotspots, US securities litigation and the emerging trend for securities litigation in the UK - and how to mitigate those threats.

1. Introduction to Academy and welcome from chairs (Julian Long, Ali Sallaway and Meredith Kotler)
2. Trends in inside information announcements and guidance/forward looking disclosures (Julian Long, Rós Ní Dhubháin and Pamela Marcogliese)
3. FCA enforcement trends and hotspots (Ali Sallaway and James Smethurst)
4. US Securities Litigation (Meredith Kotler and Boris Feldman)
5. UK Securities Litigation (James Kennedy)
6. The Regulatory Defense (Simon Orton and Mary Eaton)
7. Concluding Remarks (Ali Sallaway and Meredith Kotler)



15:00 – 15:10



Risk Exposure

15:10 – 15:30

Trends in inside information announcements and forward looking statements during the COVID-19 pandemic

15:30 – 15:50

FCA enforcement trends and hotspots

15:50 – 16:00



How to assess and mitigate the risks

16:00 – 16:20

The additional exposure of companies traded on US Exchanges
or with ADRs traded OTC to US securities litigation

16:20 – 16:30

US securities litigation: will the UK follow?

16:30 – 16:50

Preparing the regulatory response: pitfalls for litigation defence

16:50 – 17:00

Q&A and concluding remarks

Video links
If you have any questions please contact Rós Ní Dhubháin, Head of Listed Companies.