SEC Advances Proposal to Replace Quarterly Reports with Semiannual Filings

Story Summary

The U.S. Securities and Exchange Commission formally proposed allowing companies to file semiannual reports using Form 10-S instead of quarterly Form 10-Qs. SEC Chairman Paul Atkins argued current rigid rules hinder optimal reporting frequencies, aligning with President Trump's view that quarterly mandates promote short-term thinking. The proposal enters a 60-day public comment period before potential adoption via SEC majority vote.