The U.S. Securities and Exchange Commission (SEC) is moving forward with a plan to rethink how often public companies must share their earnings reports. This effort comes as President Donald Trump renews his call to end the long-standing practice of quarterly financial updates. SEC Chairman Paul Atkins told CNBC that investors and banks will play a big role in shaping any new schedule for corporate reporting.
Atkins explained that the market can decide how often companies should provide financial information. He said investors will want updates that fit the company’s activities and needs. Banks, too, will have a say, especially when companies have debts or are issuing stock or bonds. However, Atkins did not give a specific timeline for when these changes might happen.
This isn’t the first time Trump has pushed to cut down on quarterly reports. He first suggested this idea back in 2018 and brought it up again earlier this week on his social media platform. Atkins mentioned that the SEC plans to propose changes to its current rules and then review the feedback before making a final decision.
If this shift happens, it would be a major change for companies and investors alike. For decades, quarterly reports have been a key way for shareholders to keep track of how public companies are doing. Now, the SEC is looking at whether a different reporting schedule might work better for everyone involved.