United StatesMěiguó美国Securities and Exchange CommissionZhèngjiānhuì证监会to proposetíyì提议to allow / to permityǔnxǔ允许listed companies / public companiesshàngshì gōngsī上市公司to change to / to switch togǎiwéi改为every year / annuallyměinián每年twiceliǎng cì两次to disclosepīlù披露financial results / earningsyèjì业绩。
May 7, 2026 at 3:00 AM
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BusinessSEC Proposes Letting Public Companies Replace Quarterly Reports With Semiannual Filings
The SEC proposed on May 5 to let listed companies file earnings reports twice a year instead of quarterly. Supporters say the change encourages long-term thinking, but critics warn it could reduce transparency for retail investors.
On May 5th, the U.S. Securities and Exchange Commission (SEC) put forward a regulatory proposal to amend securities rules. The proposal would allow listed companies to voluntarily choose to submit an interim financial report every half year, replacing the current requirement of three quarterly reports.
This proposal aligns with Trump's long-standing advocacy that mandatory quarterly reporting encourages short-term thinking. The SEC stated that switching to semi-annual reporting could reduce companies' compliance costs and allow management to focus more on day-to-day operations.
Critics, however, argue that reducing the frequency of information disclosure would harm the interests of retail investors. According to the new rules, companies choosing semi-annual reporting must submit their reports within 40 to 45 days after the half-year period ends.
The proposal has currently entered a 60-day public comment period.
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