U.S. companies could choose to report earnings semiannually instead of quarterly under a proposal released by the Securities and Exchange Commission, potentially reducing how much information publicly-traded firms must share with investors.
"Today's proposed amendments, if ultimately adopted, would provide companies with increased regulatory flexibility," said SEC Chairman Paul Atkins in a statement.
The SEC has mandated quarterly reports, known as 10-Qs, for more than half a century in a bid to provide more transparency.
While this proposal would drop that requirement for publicly-traded companies, firms might chose to continue issuing earnings releases and performance outlooks every three months.
SEC Chairman Paul Atkins had vowed to fast-track the semiannual disclosure plan after President Donald Trump called to end mandatory quarterly reporting.
Historically, agency rulemaking can take around 18 months to two years to complete.
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