The U.S. SEC's plan to allow publicly traded companies to reduce the frequency of financial report disclosures to once every six months has passed White House review

The U.S. Securities and Exchange Commission (SEC) has passed a plan allowing publicly traded companies to reduce the frequency of financial report disclosures from quarterly to semi-annually, which has further moved closer to implementation after passing White House review. According to information from the U.S. government website, this review was completed earlier this week, allowing the SEC to officially announce the plan and seek public opinion.

After receiving feedback, the commissioners will need to vote on the final version for it to take effect. Voting typically occurs several months later. Since President Trump called for changing quarterly reports to semi-annual reports last year, the SEC has been advancing this reform of corporate information disclosure requirements. Since 1970, publicly traded companies in the U.S. have been required to disclose financial information quarterly.