BlockBeats news, on March 17, according to The Wall Street Journal, sources familiar with the matter revealed that the U.S. Securities and Exchange Commission (SEC) is drafting a proposal to eliminate the requirement for public companies to report earnings quarterly, instead allowing companies to choose to disclose financial results semiannually. Regulators could release the proposal as early as next month. In preparation for the proposal, regulators have consulted with officials from major exchanges to explore necessary adjustments to related rules. Once published, the proposal will enter a public comment period, which typically lasts at least 30 days, after which the SEC will vote on the proposal.
The rule is expected to make quarterly reports optional rather than eliminate them entirely. In September last year, it was reported that the Long-Term Stock Exchange had submitted a petition to the SEC requesting the elimination of quarterly earnings disclosure requirements. Within days, both Trump and SEC Chair Atkins expressed support for the idea. For over 50 years, U.S. public companies have been required to disclose earnings every three months. (Jin10)