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On January 30 2020, the World Health Organization (WHO) declared that the coronavirus (officially named COVID-19) outbreak constituted a public health emergency of international concern. The full impact of the outbreak and the resulting precautionary measures around the world remains to be seen but will likely have several implications on business operations, particularly for the travel, financial services and professional services industries, manufacturing facilities and supply chains. Companies will need to consider their obligations in response to government announcements, the level of business disruption, and other commercial risks arising from the coronavirus.

In this article, Baker McKenzie lawyers consider the immediate impact on capital markets, including contractual implications for securities offerings, ongoing disclosure requirements, practical effects, and the approaches of stock exchanges and regulators around the world.

You can also stay up to date with further developments at our Coronavirus Resource Center.



Adam Farlow heads the Firm's Capital Markets practice in Europe, Middle East and Africa. He is a New York and English qualified partner based in London. He has extensive experience in US securities laws and transaction management. He has been elected as a Life Fellow of the American Bar Foundation and serves on the Council of the American Bar Association Section of International Law.


Ivy Wong is the chair of Baker McKenzie's Capital Markets practice in Asia Pacific and serves on the Global Capital Markets Steering Committee. Based in Hong Kong, Ivy is qualified in Hong Kong, England and Wales and New York. She has led many unprecedented and high-profile securities offerings and cross-border transactions in Hong Kong, including many successful listings that are first of its kind on the Hong Kong Stock Exchange and multiple landmark and innovative deals that won industry awards.


Robert A. Grauman practices corporate and securities law. His practice also includes public and private offerings, public company reporting and governance issues, as well as general corporate matters, mergers and acquisitions. He has written several articles related to his area of practice for various publications, including "The Painful Process of Opening Doors for American Investors" for The Financial Times. Mr. Grauman is a member of the American Bar Association, Section on Business Law and the New York State Bar Association, Sections on Business Law and on Health Care Law.