SEC Demands Additional Information On Russian Business Exits From Companies: WSJ

The Securities and Exchange Commission has urged numerous corporations to make changes for future filings after questioning them repeatedly about how they disclose the financial impact of Russia's conflict on Ukraine, reported Wall Street Journal.
To ensure that investors can properly analyze risks, the U.S. securities regulator published a list of the information it requests from companies in May.
It has asked for additional queries recently and follow-ups in some instances. Among the receivers were Citigroup Inc. C, United Parcel Service Inc. UPS, Viasat Inc. VSAT, Core Laboratories NV CLB, a provider of petroleum services, and United Maritime Corp USEA.
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SEC also questioned nine funds, including exchange-traded funds and mutual funds.
According to Jay Knight, a partner at the law firm Bass, Berry & Sims PLC, and a former special counsel for the SEC's corporate-finance division, the letters serve as a reminder to companies to take into account how recent events may affect their performance and financial condition.