What StoneX Group, Inc. told the SEC could break it.

As a technology-dependent global trading and clearing intermediary, StoneX is exposed to degradation or failure of its (and its vendors') communications and computer systems and to cybersecurity breaches, which could cause financial losses, regulatory fines or sanctions and third-party litigation.

“System failures, inadvertent disclosure of client personal information and/or cybersecurity breaches expose us to financial losses, regulatory fines or sanctions and third-party litigation.”

Potential U.S. tariffs on imported precious metals disrupted StoneX's precious-metals operations: it pre-positioned inventory in the U.S. to mitigate possible tariffs, which raised carrying costs and lifted interest expense by $41.6M, alongside logistical charges from the tariff-related disruptions.

“Interest expense increased $41.6 million, primarily related to heightened interest expense in our precious metals business related to carrying costs on inventory which was held in the U.S. to mitigate against possible U.S. government tariffs on imported precious metals.”