President Trump asked the SEC to consider replacing its current quarterly reporting requirement for public companies with a semi-annual requirement. According to a tweet by the President, the idea came from "some of the world's top business leaders," who recommended the measure in order to cut corporate costs.
In a public statement, SEC Chair Jay Clayton responded that the SEC Division of Corporation Finance "continues to study public company reporting requirements, including the frequency of reporting." Mr. Clayton noted that the SEC implemented, and continues to assess, possible regulatory changes that may foster long-term capital formation while preserving investor protections.
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