SEC is close to ending mandatory quarterly earnings reports.

• The Securities and Exchange Commission formally proposed a rule change that would allow companies to file semiannual reports on a new form 10-S in place of the traditional quarterly10-Qs.
• The move brings regulators closer to a structural change that Trump has advocated, arguing that mandatory quarterly reporting encourages a short-term mindset and distracts executives from long-term strategy.

The shift is likely to reignite a long-running debate across Wall Street and corporate America. Critics argue that reducing the frequency of mandatory disclosures risks limiting transparency and could disadvantage retail investors, who rely more heavily on public filings than large institutional players. Supporters counter that a less frequent reporting cycle could encourage investment and strategic planning over immediate results.

The proposal now goes to a 60-day public comment period. The rules can be changed by a majority vote on the SEC.