The U.S. SEC plans to pass a proposal to change corporate quarterly reports to semi-annual reports through White House review.

ME News Update. On May 1 (UTC+8), the U.S. Securities and Exchange Commission (SEC) plan to allow publicly traded companies to reduce the frequency of financial report disclosures from once per quarter to once every half-year has been approved by the White House, bringing it further toward implementation. According to information on a government website, the review was completed earlier this week. This will enable the SEC to officially publish the plan and solicit public comments. After receiving feedback, the commissioners will also need to vote again on the final version before the rules can take effect. The vote typically takes place several months later. After U.S. President Donald Trump last year called for changing quarterly reports to half-year reports, the SEC has been moving forward with this reform plan for corporate information disclosure requirements. Since 1970, U.S. listed companies have been required to disclose financial information on a quarterly basis. (Source: PANews)