SEC advances Trump-backed proposal to end mandatory quarterly earnings reports

U.S. regulators are advancing a proposal that would allow publicly traded companies to cancel quarterly earnings reports in favor of a biannual disclosure regime, a change long championed by President Donald Trump.

Securities and Exchange Commission officially offered A rule change that will allow companies to file semi-annual reports on a new 10-S form instead of traditional quarterly 10-Qs. Companies will still submit a full annual report.

“The rigidity of SEC rules has prevented companies and their investors from determining for themselves the frequency of interim reporting that best serves their business needs,” SEC Chairman Paul Atkins said in a statement Tuesday. he said.

The move brings regulators closer to the structural change advocated by Trump, arguing that mandatory quarterly reporting encourages a short-term mindset and distracts managers from long-term strategy. The president has previously said a six-month system would “save money” and allow management teams to focus on running their businesses.

This shift is expected to reignite a long-running debate on Wall Street and corporate America. Critics argue that reducing the frequency of mandatory disclosures risks limiting transparency and could disadvantage individual investors who rely more on public filings than large institutional players. Supporters counter that a less frequent reporting cycle could encourage investment and strategic planning over immediate results.

The proposal will now be available for 60 days of public comment. The rules may be changed by a majority vote in the SEC.