SEC 'Prioritizing' Trump's Push to Cull Quarterly Reporting [View all]

Source: Bloomberg via Yahoo Finance

Wall Street’s main regulator said it is “prioritizing” a proposal from Donald Trump to reduce the frequency of corporate earnings reports, after the president again stepped into a long-running debate over transparency in American capitalism.

The Securities and Exchange Commission said in a statement it is pursuing a proposal to “further eliminate unnecessary regulatory burdens on companies.” The move followed a social media post by Trump earlier Monday calling for an end to the quarterly reports that companies issue to share financial results with investors.

The SEC mandated for companies to report quarterly in 1970, part of its decades-long push to increase transparency following the stock market crash in 1929. For investors and executives alike, the future of quarterly reporting could reshape incentives in the world’s biggest equity market — determining whether US companies stay chained to the clock or win more freedom to focus on the long game.

“Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,’” Trump said on social media. “This will save money, and allow managers to focus on properly running their companies.”

Read more: https://finance.yahoo.com/news/sec-prioritizing-trump-push-cull-005011790.html

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A twofer headline: 1) an Epstein distraction, and 2) a plan to delay bad corporate business reporting to hide the disastrous economic effects of Trump's tariffs.