President Trump Asks SEC To Explore Replacing Quarterly Reporting With Half-Yearly Reporting
On August 17, President Donald Trump announced via Twitter that, after speaking with “some of the world’s top business leaders” concerning ideas to improve business in the US, he has asked the Securities and Exchange Commission to study the current requirement that publicly traded companies report financial results on a quarterly basis and explore the possibility of transitioning to half-yearly reporting. President Trump added that half-yearly reporting would allow publicly traded companies greater flexibility, while also saving them money. SEC Chairman Jay Clayton said in a statement that President Trump’s proposal had underscored “a key consideration for American companies and, importantly, American investors and their families—encouraging long-term investment in our country.”
The full text of Chairman Clayton’s statement is available here.