The SEC is planning a comprehensive reform of the disclosure rules for listed companies. At the same time, Trump called for "changing quarterly reports to semi-annual reports".
Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said on Friday that the agency is moving forward with a comprehensive reform plan for disclosure rules for public companies. Just in the same week that the SEC announced this news, Trump posted on social media that the SEC should change the frequency of financial report disclosures from "quarterly" to "semi-annually" for public companies. Atkins stated, "Now is the right time to review various information channels, ways of dissemination, and 'what disclosure methods meet actual needs'." He pointed out that many investors obtain more information from "earnings conference calls" than from quarterly financial reports. In addition, Atkins also agrees with Trump's viewpoint - Trump has criticized that the "quarterly financial reporting system causes executives and management to excessively focus on short-term profits."
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