Should the SEC Require Companies to Disclose Ties to Russia? The Business Community Weighs In

“It’s been a week since Russian troops launched an attack on Ukraine. As Western countries continue to disrupt Russia’s economy with increased sanctions, the business community is now weighing in.

Visa CFO Vasant Prabhu filed a Form 8-K with The U.S. Securities and Exchange Commission (SEC) on Wednesday. The company emailed me a copy of the document. It states: ‘Regarding the invasion of Ukraine, our number one priority is ensuring the safety and security of our colleagues and their families who are directly impacted. Visa is in the process of complying with all applicable global sanctions. As part of that compliance, we have suspended access to Visa for certain clients. It is difficult to reasonably estimate the full potential financial impact of this situation on Visa at this time.’”