JEF Jefferies Dashboard

Risks

• Our business is subject to significant credit risk.
• A credit-rating agency downgrade could significantly impact our business.
• Our principal trading and investments expose us to risk of loss.
• We are exposed to market risk.
• As a holding company, we are dependent for liquidity from payments from our subsidiaries, many of which are subject to restrictions.
• The effects of the outbreak of the novel coronavirus (“COVID-19”) have negatively affected the global economy, the United States economy and the global financial markets, and may disrupt our operations and our clients’ operations, which could have an adverse effect on our business, financial condition and results of operations.
• We may incur losses as a result of unforeseen or catastrophic events, including the emergence of a pandemic, terrorist attacks, extreme weather events or other natural disasters.
• Abrupt changes in market and general economic conditions have in the past adversely affected, and may in the future adversely affect, our business and profitability and cause volatility in our results of operations.
• Changing financial, economic and political conditions could result in decreased revenues, losses or other adverse consequences.
• The United Kingdom’s exit from the EU could adversely affect our business.
• Damage to our reputation could damage our business.
• We may incur losses if our risk management is not effective.
• The ability to attract, develop and retain highly skilled and productive employees is critical to the success of our business.
• Operational risks may disrupt our business, result in regulatory action against us or limit our growth.
• Any cyber attack, cybersecurity incident, or other information security breach of, or vulnerability in, our technology systems, or those of our clients, partners, counterparties, or other third-party service providers we rely on, could have operational impacts, subject us to significant liability and harm our reputation.
• New legislation and regulation may significantly affect our business.
• Increasing regulatory focus on privacy and security issues and expanding laws could impact our businesses and investments and expose us to increased liability.
• Extensive regulation of our business limits our activities, and, if we violate these regulations, we may be subject to significant penalties.
• Legal liability may harm our business.
• A change in tax laws in key jurisdictions could materially increase our tax expense.
• If our tax filing positions were to be challenged by federal, state and local, or foreign tax jurisdictions, we may not be wholly successful in defending our tax filing positions.