Aon | Financial Services Group
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On January 23, the Financial Services Group at Aon hosted an interactive panel discussion in New York. Guest panelists Christopher Brandes, Jennifer Wong, Jordan Saxe, and Joseph Herz shared insights about expectations of initial public offering (IPO) activity in 2025 and beyond, the common organizational, financial, and legal challenges of becoming publicly listed, and the importance of starting a risk management strategy early.
Key takeaways from the discussion:
- An appropriate talent and hiring strategy can be crucial to IPO and post-IPO success. Reporting to the U.S. Securities and Exchange Commission (SEC) is complex and requires an experienced and effective accounting, legal, and audit team. Compliance, financial reporting, and accounting are vital as a company moves closer to a public listing.
- Ensure accuracy of disclosures, such as S-1 filings, and be prepared to meet other compliance requirements from the SEC, such as the cyber disclosure rules.
- Prepare. Becoming a public company requires rigor, timeliness, and complexity in many ways. Consider performing tabletop exercises and hosting mock earnings calls as early as two years before the anticipated IPO window.
- Changes to SEC and environmental, social and governance (ESG) initiatives under the new administration are creating a rapidly evolving risk landscape. Data suggests SEC enforcement/actions could remain active despite the notion of a more lenient administration.
- A risk management strategy that integrates directors & officers (D&O) and cyber insurance can safeguard the company financially and help recruit top talent and board members. No matter how strong your disclosures, a stock drop in your first three years of going public could likely result in a Section 11 lawsuit, and cyber incidents continue to rise in frequency. Insufficient budgeting for insurance can also be an issue, so start discussions with your broker early.
The D&O insurance market is constantly evolving and has been more buyer-friendly over the past few years. A broker who understands the market and can negotiate best-in-class policy terms and conditions on your behalf is important in the unfortunate event of a claim. As the IPO market starts to build momentum, Aon can help clients make better decisions and prepare for what comes with a liquidity event. If you are a director or executive planning an IPO, read these five D&O tips and actions to take now in our latest article.
If you have any questions about your coverage or are interested in obtaining coverage, please contact your Aon broker.
About Aon
Aon (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.
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