Paul Atkins Backs Trump’s Call To End Quarterly Financial Reporting: Report
Synopsis
In an interview with CNBC, Atkins said the idea merits a fresh look, noting that CEOs and investors have long complained that quarterly filings divert management’s attention from long-term strategy.
U.S. Securities and Exchange Commission Chairman Paul Atkins reportedly said the agency will consider President Donald Trump’s call to end mandatory quarterly earnings reports.
“We welcome the president putting this on the table,” Atkins said in an interview with CNBC. “Semiannual reporting is no stranger to our markets. Our foreign private issuers do it now, and it was actually the rule until 1970 when the SEC introduced the concept of 10-Qs.”
Trump, earlier this week, posted on Truth Social, arguing that the SEC should study whether companies should be “forced” to report results every three months instead of six, as quarterly disclosures foster short-term thinking and add unnecessary compliance costs. Atkins said the idea merits a fresh look, noting that CEOs and investors have long complained that quarterly filings divert management’s attention from long-term strategy.
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