According to TechFlow, on May 1, the U.S. Securities and Exchange Commission (SEC) plan to allow listed companies to reduce the frequency of financial disclosure from quarterly to semi-annually has passed the White House review, moving closer to implementation. According to information on the U.S. government website, this review was completed earlier this week, enabling the SEC to formally announce the plan and solicit public comments.
After receiving feedback, the commissioners will need to vote again on the final version for the rule to take effect. Voting usually occurs several months later. Following U.S. President Trump’s call last year to switch from quarterly to semi-annual reports, the SEC has been advancing this plan to reform corporate information disclosure requirements. Since 1970, publicly traded companies in the U.S. have been required to disclose financial information quarterly.
