SEC to Propose Next Month the Elimination of Quarterly Reporting Requirement

**SEC Prepares Proposal to Make Quarterly Earnings Reporting Optional for U.S. Public Companies** March 17th — Sources familiar with the matter told *The Wall Street Journal* that the U.S. Securities and Exchange Commission (SEC) is drafting a proposal to scrap mandatory quarterly earnings reports for public companies, letting firms disclose performance twice a year instead. The regulator could unveil the proposal as soon as next month. To lay groundwork, the SEC has been in talks with officials from major U.S. exchanges about potential rule adjustments needed for the shift. Once public, the proposal will open to a minimum 30-day public comment period (standard for SEC rulemaking) before commissioners vote on it. Industry expectations suggest the rule will make quarterly reporting optional, not eliminate it entirely. Last September, reports emerged that the Long-Term Stock Exchange (LTSE) had petitioned the SEC to end mandatory quarterly financial disclosures. Within days, former President Donald Trump and then-SEC Chair Jay Clayton voiced support for the idea. U.S. public companies have been required to disclose quarterly performance for more than 50 years. (FX678)