The chairman of the U.S. Securities and Exchange Commission proposed adjusting the frequency of financial report disclosure according to the size of the company.

Chairman of the U.S. Securities and Exchange Commission (SEC) Paul Atkins proposed adjusting the frequency of corporate financial reporting based on company size. Following President Trump's call last year to switch performance reports from quarterly to semi-annual, the SEC has been considering this reform. Atkins has promised to expedite the potential plan, stating that it could save companies a significant amount of time and cost. In order to move forward with this reform, the SEC would need to submit a draft rule to the White House for review, and then solicit public feedback. Historically, it takes the SEC an average of about 18 months from proposing a draft to final implementation. Media reports on Monday suggested that the SEC could potentially announce the plan as early as April. Atkins, speaking to reporters at the Digital Chamber annual conference in Washington on Tuesday, did not comment on a possible timeline for the plan. During President Trump's first term, the SEC also considered abolishing the quarterly reporting system, but due to a lack of consensus, the discussions did not progress.