The SEC may propose to eliminate quarterly reporting requirements as early as next month.

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CoinWorld News, March 17 — According to The Wall Street Journal, sources familiar with the matter reveal that the U.S. Securities and Exchange Commission (SEC) is drafting a proposal to eliminate the requirement for publicly traded companies to report earnings quarterly, instead allowing companies to choose to disclose their earnings semiannually. The regulatory agency may release the proposal as early as next month. To prepare for this, the SEC has consulted with officials from major exchanges to discuss potential adjustments to related rules. Once announced, the proposal will enter a public comment period, which typically lasts at least 30 days, after which the SEC will vote on the proposal. It is expected that this rule will make quarterly reporting optional rather than completely abolishing it. In September last year, there were reports that the New York Stock Exchange had submitted a petition to the SEC requesting the removal of quarterly financial reporting requirements. Within days, former President Trump and SEC Chairman Gensler both expressed support for the idea. For over 50 years, U.S. publicly traded companies have been reporting earnings every three months.

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