United States President Donald Trump has said companies should not be required to provide quarterly earnings reports, claiming a switch to semiannual reporting would save money.
This would be subject to approval by the Securities and Exchange Commission (SEC), and could be altered either by the SEC or by Congress. Trump previously asked the SEC to study a potential change during his first term, though no change was made.
“Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’ he wrote on Truth Social.
“This will save money, and allow managers to focus on properly running their companies.”
The SEC said it was “prioritising this proposal to further eliminate unnecessary regulatory burdens on companies,” at Trump’s request.
The agency said earlier in 2025 that it was considering possible rule changes to “rationalise disclosure practices”.
The Long-Term Stock Exchange, a shares trading venue, also said last week that it would ask the SEC to shift to semiannual reporting requirements.
The SEC first began requiring quarterly reporting in 1970, increasing from semiannual reporting.
A return to semiannual reporting would put U.S. requirements in line with the United Kingdom, France, and Australia.
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