admin Donald Trump has called on U.S. regulatory authorities to revise the longstanding requirement that publicly traded companies file earnings reports every three months. In a recent post on his platform Truth Social, Trump proposed moving to a six-month reporting cycle. He argues that reducing reporting frequency would lower costs for companies and allow executives to focus more fully on long-term strategy rather than short-term financial targets.
The Securities and Exchange Commission (SEC) has enforced quarterly reporting since 1970, and this would mark a significant change in corporate disclosure policy. Trump first floated this proposal during his previous term, though efforts to change the rule made little progress at that time.
Investor Debate: Transparency vs. Strategic Depth
The call to alter the reporting schedule has sparked renewed interest and debate, especially after the Long Term Stock Exchange, a San Francisco-based exchange that promotes firms prioritising long-term growth, signaled its intention to petition the SEC to eliminate quarterly mandates. Supporters of the shift maintain that excessive focus on quarterly earnings leads companies to chase short-term gains at the expense of sustainable investment and innovation.
Critics counter that quarterly earnings reports serve as vital touchstones for investors, providing regular visibility into company performance and early warning of emerging risks. They warn that moving to semi-annual reporting could reduce market transparency, make it harder for investors to monitor financial health, and elevate informational asymmetries between insiders and shareholders.
As the SEC review gains momentum, companies, analysts, and investors will be watching closely. Should regulatory change follow, its impact could ripple across public markets: affecting cost structures, investor relations practices, and how corporate leadership balances immediate metrics against long-term growth. The debate ultimately centers on whether the future of public company disclosure should lean more heavily toward strategic depth—or preserve the clarity and cadence that regular reporting provides.
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