WASHINGTON (dpa-AFX) - In a post on his social media platform Truth Social, Trump urged U.S companies to report earnings results every six months instead of quarterly, to save money and to focus on properly running their business.
'Subject to SEC Approval, Companies and Corporations should no longer be forced to 'Report' on a quarterly basis (Quarterly Reporting!), but rather to Report on a 'Six (6) Month Basis.' This will save money, and allow managers to focus on properly running their companies. Did you ever hear the statement that, 'China has a 50 to 100 year view on management of a company, whereas we run our companies on a quarterly basis??' Not good!!!'.
Media reports said the U.S. Securities and Exchange Commission is actively considering a proposal from President Donald Trump that U.S. companies report semi-annual results instead of quarterly.
'At President Trump's request, Chairman [Paul] Atkins and the SEC is prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies,' media quoted a SEC spokesperson as saying.
In 1970, the U.S. stock market regulator had made it mandatory for companies to publish their corporate earnings reports in every quarter in order to increase transparency.
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