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related topics |
{stock, price, share} |
{loan, real, estate} |
{stock, price, operating} |
{provision, law, control} |
{tax, income, asset} |
{financial, litigation, operation} |
{competitive, industry, competition} |
{system, service, information} |
{customer, product, revenue} |
{personnel, key, retain} |
{acquisition, growth, future} |
{regulation, change, law} |
{investment, property, distribution} |
{cost, regulation, environmental} |
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Risks Relating to the Nature of Our Business
The asset and wealth management, investment banking, and institutional services industries are highly competitive. If we are not able to compete successfully against current and future competitors, our business, financial condition, and results of operations will be adversely affected
We may experience reduced revenue due to downturns or disruptions in the securities markets that reduce market volumes, securities prices, and liquidity, which can also cause counterparties to fail to perform
There are market, credit and counterparty, and liquidity risks associated with our market making, principal trading, merchant banking, arbitrage, and underwriting activities. We may experience significant losses if the value of our marketable security positions deteriorates.
Our business depends on the services of our executive officers, senior management, and many other skilled professionals and may suffer if we lose the services of our executive officers, senior management, or other skilled professionals.
Because our asset and wealth management and capital markets services businesses focus on investors and capital markets clients based in the southwestern U.S., an economic downturn in that region generally, or in any of our target sectors, could adversely affect our revenue.
Litigation and potential securities laws liabilities may adversely affect our business.
Poor investment performance, in either relative or absolute terms, may reduce the profitability of our asset and wealth management business.
We may experience substantial fluctuations in our operating results from period to period due to the nature of our business and therefore fail to meet profitability expectations.
We depend on proprietary and third party systems, so systems failures could significantly disrupt our business. These and other operational risks may disrupt our business, result in regulatory action against us, or limit our growth.
Strategic investments or acquisitions may result in additional risks and uncertainties in our business.
Risks Related to the Regulation of Our Business
Our securities broker-dealer, investment adviser, and trust company subsidiaries are subject to substantial regulation. If we fail to comply with applicable requirements, our business will be adversely affected.
The business operations of SMH and Salient Trust may face limitations due to net capital requirements.
Risks Relating to Owning Our Common Stock
Our common stock price may be volatile, which could adversely affect the value of your shares
Our common stock may trade at prices below your purchase price.
Because our board of directors can issue common stock without shareholder approval, you could experience substantial dilution.
Our ability to issue blank check preferred stock without approval by the holders of our common stock could adversely affect your rights as a common shareholder and could be used as an anti-takeover device.
Anti-takeover provisions of the Texas Business Corporation Act and our charter could discourage a merger or other type of corporate reorganization or a change in control even if it could be favorable to the interests of our shareholders.
Our officers and directors own a substantial amount of our common stock and, therefore, exercise significant control over our corporate governance and affairs, which may result in their taking actions with which you do not agree.
Full 10-K form ▸
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