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The U.S. SEC's proposal to change corporate quarterly reports to semi-annual reports is under review by the White House.
ME News Report, May 1st (UTC+8), the plan by the U.S. Securities and Exchange Commission (SEC) to allow publicly traded companies to reduce the frequency of financial report disclosures from quarterly to semi-annual has been approved by the White House, 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, the commissioners will need to vote again on the final version before the rules can take effect. The voting typically occurs several months later. Since last year, when President Trump called for changing quarterly reports to semi-annual reports, 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. (Source: PANews)