CryptoWorld News, The U.S. Securities and Exchange Commission (SEC) has received White House approval for a plan to reduce the frequency of financial report disclosures by publicly traded companies from quarterly to semi-annual, bringing it closer to implementation. According to government website information, the review was completed earlier this week, allowing the SEC to officially announce the plan and seek public comments. After receiving feedback, commissioners will need to vote again on the final version before the rule can take effect. The voting typically occurs several months later. Since President Trump called for changing quarterly reports to semi-annual reports last year, the SEC has been pushing forward with this reform of corporate information disclosure requirements. Since 1970, U.S. listed companies have been required to disclose financial information quarterly.