NTRS: 10-K Risk Factor Changes

2026 vs 2025  ·  SEC EDGAR  ·  2026-06-01
✓ Deterministic extraction — no AI-generated data

Classification is based on semantic text similarity scoring and may include approximations. “No match” means no high-confidence textual match was found — not necessarily that a section was removed.

0
New Risks
0
Removed
16
Modified
35
Unchanged
🟡 Modified

Errors, breakdowns in controls or other mistakes in the provision of services to clients or in carrying out transactions for our own account can subject us to liability, result in losses or have a negative effect on our earnings in other ways.

high match confidence

Sentence-level differences:

  • Added sentence: "20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION"

Current (2026):

In our asset servicing, investment management, fiduciary administration and other business activities, we effect or process transactions for clients and for ourselves that involve very large amounts of money. Failure to manage or mitigate operational risks properly can have…

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In our asset servicing, investment management, fiduciary administration and other business activities, we effect or process transactions for clients and for ourselves that involve very large amounts of money. Failure to manage or mitigate operational risks properly can have adverse consequences, and increased volatility in the financial markets may increase the magnitude of resulting losses. Further, remote working and other modified business practices initiated in recent years, combined with the increasing sophistication and frequency of potential cyber-attacks and other information security incidents, have heightened our operational and execution risk. Given the high volume of transactions we process, errors that affect earnings may be repeated or compounded before they are discovered and corrected. 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION 20 2025 ANNUAL REPORT | NORTHERN TRUST CORPORATION

View prior text (2025)

In our asset servicing, investment management, fiduciary administration and other business activities, we effect or process transactions for clients and for ourselves that involve very large amounts of money. Failure to manage or mitigate operational risks properly can have adverse consequences, and increased volatility in the financial markets may increase the magnitude of resulting losses. Further, remote working and other modified business practices initiated in recent years, combined with the increasing sophistication and frequency of potential cyber-attacks and other information security incidents, have heightened our operational and execution risk. Given the high volume of transactions we process, errors that affect earnings may be repeated or compounded before they are discovered and corrected.

🟡 Modified Pandemics, natural disasters, global climate change, acts of terrorism, geopolitical tensions, and global conflicts may have a negative impact on our business and operations. 🔒
🟡 Modified The systems and models we employ to analyze, monitor and mitigate risks, as well as for other business purposes, are inherently limited, may not be effective in all cases and, in any case, cannot eliminate all risks that we face. 🔒
🟡 Modified We are subject to complex and evolving laws, regulations, rules, standards and contractual obligations regarding data privacy and security, which could increase the cost of doing business, compliance risks and potential liability. 🔒
🟡 Modified The ultimate impact on us of regulatory divergence between the United Kingdom and the European Union remains uncertain. 🔒
🟡 Modified We may take actions to maintain client satisfaction that could result in losses or reduced earnings. 🔒
🟡 Modified Our operations, businesses and clients could be materially adversely affected by the effects of climate change or concerns related thereto. 🔒
🟡 Modified Failure of any of our third-party vendors (or their vendors) to perform can result in losses. 🔒
🟡 Modified Market volatility and/or weak economic conditions can result in losses or the need for additional provisions for credit losses, both of which reduce our earnings. 🔒
🟡 Modified We are subject to extensive and evolving government regulation and supervision that impacts our operations. Changes by the U.S. and other governments to laws, regulations and policies applicable to the financial services industry could heighten the challenges we face and make regulatory compliance more difficult and costly. 🔒
🟡 Modified Failure to control our costs and expenses adequately could affect our earnings negatively. 🔒
🟡 Modified Regulatory and Legal Risks 🔒
🟡 Modified If we fail to comply with legal standards, we could incur liability to our clients or lose clients, which could affect our earnings negatively. 🔒
🟡 Modified We need to invest in innovation constantly, and the inability or failure to do so may affect our businesses and earnings negatively. 🔒
🟡 Modified Other Risks 🔒
🟡 Modified Liquidity Risks 🔒
15 more changes in this filing

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