U.S. SEC considers eliminating mandate for quarterly corporate financial reports

The U.S. Securities and Exchange Commission (SEC) is reportedly considering rescinding its mandate for public companies to report financial results on a quarterly schedule, proposing that semiannual and annual reports could suffice instead. This proposal, which recently closed for public comment, has faced overwhelming negative feedback from institutional investors and auditing professionals, who argue it would disadvantage Main Street investors by providing less frequent information.