SEC advances proposal to end mandatory quarterly earnings reports

The U.S. Securities and Exchange Commission has proposed a rule change that would let public companies report results every six months instead of every quarter. The plan would replace the standard 10Q filings with a new semiannual form, while companies would still be required to file an annual report. SEC Chair Paul Atkins said the agency wants to give companies and investors more flexibility to choose a reporting schedule that fits their business needs. The proposal reflects an idea long supported by President Donald Trump, who has argued that quarterly reporting can encourage shortterm thinking. The proposal is now open for a 60day public comment period before the SEC can vote on whether to adopt it. Supporters say less frequent reporting could help companies focus on longterm strategy, while critics warn it could reduce transparency for investors, especially retail shareholders.