Market Monitoring Checklist
A practical tool for in-house counsel, law firm partners, and competition authorities
How to use this checklist
This checklist is organised around three levels of urgency, each requiring a different response. The goal is not to monitor everything at once — it is to build the habit of knowing what to look for and what to do when you find it.
Green — Monitor
Daily / weekly habits
Build the baseline. Know what is normal.
Yellow — Investigate
Quarterly checks
Dig deeper. Something has changed.
Red — Call the client
Immediate action required
Pick up the phone. Your client needs to know now.
🟢 Green — Monitor
Daily and weekly habits. Build the baseline. Know what is normal before something changes.
| Action | Frequency | Tool | Cost |
|---|---|---|---|
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Set up regulatory filing alerts — by jurisdiction
US listed companies: EDGAR — set up email alerts for 8-K filings for your clients and competitors.
UK: Companies House — sign up for email alerts on any company. Spain: CNMV — use the ‘Consultas y alertas’ section for filing notifications. France: AMF — subscribe to company disclosure alerts. Germany: Bundesanzeiger — register for publication alerts. All are free and take under five minutes to set up. |
One-time setup | EDGAR / Companies House / CNMV / AMF / Bundesanzeiger | Free |
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Create a watchlist and set alerts in Investing.com
Go to Investing.com — create a free account — click ‘My Portfolios’ and add your clients and key competitors by ticker or name. Then go to each company page and click ‘Set Alert’ to receive notifications for significant price movements (±5% recommended) and upcoming earnings release dates.
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One-time setup, review monthly | Investing.com | Free |
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Pull investor presentations and quarterly/annual reports
Go to the Investor Relations section of the company website — usually found in the footer under ‘Investors’ or ‘IR’. Download the most recent annual report and the last two quarterly earnings releases. These are the documents management uses to communicate strategy and financial position to investors.
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Quarterly / per event | Company IR page | Free |
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Read earnings call and M&A call transcripts
Search the company name plus ‘earnings call transcript’ on Seeking Alpha or the company’s own IR page. Management tone and language matter as much as the numbers — listen for hesitation on guidance, changes in strategic framing, or new risks mentioned for the first time.
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Per earnings / per event | Seeking Alpha, IR page | Free |
🟡 Yellow — Investigate
Quarterly checks. Something has changed. Dig deeper before advising your client.
| Action | Frequency | Tool | Cost |
|---|---|---|---|
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Monitor Net Debt / EBITDA (leverage ratio)
Find Net Debt and EBITDA in the annual or interim report — usually in the financial highlights section or the notes to accounts. Divide Net Debt by EBITDA. A ratio above 4x signals significant financial pressure. This ratio determines how far a company can go on divestitures in a merger review and drives most major strategic decisions.
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Every 6 months | Annual / interim report | Free |
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Check Adjusted EBITDA vs reported EBITDA
Both figures appear in the earnings release or annual report. If Adjusted EBITDA is materially higher than reported EBITDA, investigate what is being excluded. Companies adjust for restructuring costs, legal settlements, and one-off items — some legitimate, some not. A large gap is a signal to dig deeper.
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Quarterly | Annual report, earnings release | Free |
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Compare ROCE vs WACC
Both metrics are available on Investing.com under the company’s ‘Financials’ tab. If Return on Capital Employed consistently exceeds the Weighted Average Cost of Capital by a growing margin, the company is generating above-normal returns — which may attract regulatory attention in a dominance or market power case.
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Quarterly | Investing.com | Free |
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Check the debt maturity schedule
Find this in the notes to the accounts in the annual report — search for ‘maturity’ or ‘borrowings’. A company with large debt maturing in 12–18 months is under significant refinancing pressure. This changes its incentives in a merger review, its willingness to offer remedies, and its tolerance for regulatory delay.
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Annually | Annual report (notes to accounts) | Free |
🔴 Red — Call the client
Immediate advisory triggers. Pick up the phone. Your client needs to know now.
| Action | Frequency | Tool | Cost |
|---|---|---|---|
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Significant stock price drop — investigate immediately
When your Investing.com alert fires, the first question is: has a short seller published a report? Search the company name on Hindenburg Research, Muddy Waters, and Citron Research. Short seller reports flagging financial irregularities often precede regulatory and legal action — as in the FTC vs Valeant case.
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Per alert trigger | Investing.com, short seller sites | Free |
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Stock price approaching or below €1 / $1
A price at this level signals risk of delisting from the exchange. A company fighting to stay listed will take aggressive actions to raise its share price — including deals, disposals, or restructurings that create new antitrust exposure. Call the client before they call you.
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Per alert trigger | Investing.com alert | Free |
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Sudden change in auditor or CFO
Both events are filed as 8-Ks on EDGAR or equivalent filings in other jurisdictions — your regulatory filing alert will catch them. An unexpected auditor change or CFO departure is one of the strongest early warning signals of financial restatements or challenges to reported numbers. Act before the restatement is announced.
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Per event (regulatory filing alert) | EDGAR alert / Companies House alert | Free |
