Trump Seeks SEC Study of 6-Month Reporting Instead of Quarterly

How earnings calls go bad

That was the argument made by Jamie Dimon, the chief executive of JPMorgan Chase, and investor Warren E. Buffett in a widely shared op-ed published by the Wall Street Journal in June.

President Trump wants regulators to study a move that would loosen the reins on public companies.

Currently, all publicly traded companies in the USA must file reports with the SEC four times a year, every three months.

For companies, "That would allow greater flexibility & save money", Trump tweeted.

In a tweet dispatched Friday morning, Trump said he had spoken to "some of the world's top business leaders" about making business and jobs "even better" in the USA and they had advocated an end to quarterly reporting. He added that he has asked the SEC to examine moving to a six-month reporting schedule, instead of the current system of reporting corporate results every three months. "I have asked the SEC to study!"

Quarterly reporting by public companies has always been a cornerstone of USA capital markets, with Wall Street analysts known for making closely monitored recommendations on buying or selling stock.

Quarterly reports are "early warning signs of other bigger problems", Elson said.

Other critics say companies should be required to report quarterly earnings but not quarterly guidance.

While some business leaders have groaned about the rigors associated with having to meet targets and metrics four times a year, the SEC has been reticent to make any changes. As an independent agency, the SEC enjoys some level of independence from the White House.

Trump held a dinner for business executives on Aug 8, two days after Nooyi announced her departure, at his golf club in Bedminster, New Jersey.

The president did not name the leaders.

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