""This will save money, and allow managers to focus on properly running their companies," Trump wrote."
"Trump added that China has a "50 to 100 year view on management of a company," as opposed to U.S. companies required to report four times in a fiscal year."
""President Trump has revived an old idea emphasizing the costs of quarterly filings, the distraction from long-term goals, and how they reinforce Wall Street's obsession with beating short-term expectations," Usha Haley, a professor at the Barton School of Business at Wichita State University, told Fortune."
""It made sense to me because, you know, we are not thinking far enough out," Trump said in 2018. "We've been accused of that for a long time, this country. So we're looking at that very, very seriously.""
A proposal would require companies to report earnings every six months instead of quarterly, pending U.S. Securities and Exchange Commission approval. Quarterly reporting has been mandatory in the United States since 1970. The change is presented as a way to save money and let managers focus on running companies while enabling longer-term strategic planning. Hong Kong’s exchange requires semiannual reporting and permits voluntary quarterly disclosures. Some experts emphasize the administrative costs and short-term pressures of quarterly filings and warn they can distract from long-term goals. The SEC chair has emphasized increased transparency, and many companies continue to push back against changing disclosure frequency.
Read at Fortune
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