Trump Asks SEC To Look Into Practicality Of Corp. Reports
NEW YORK (AP) — President Donald Trump says he's asking federal regulators to look into the effectiveness of the quarterly financial reports that publicly traded companies are required to file.
In a tweet early Friday, Trump said that after speaking with "some of the world's top business leaders," he's asked the U.S. Securities and Exchange Commission to determine whether shifting to a six-month reporting regimen would make more sense.
The SEC requires such companies to share profit, revenue and other figures publicly every three months.
Some believe that executives are making decisions based on short-term thinking to satisfy the market at the expense of the long-term viability of their companies.
There are also tremendous expenses tied to preparing quarterly and annual reports.