Trump asks SEC to study ending quarterly earnings for public companies

Lloyd Doyle
August 18, 2018

"In speaking with some of the world's top business leaders I asked what it is that would make business (jobs) even better in the USA", the president wrote on Twitter.

"That would allow greater flexibility & save money", he said in a post on Twitter on Friday. 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.

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

Earlier this year, Berkshire Hathaway Inc.'s Warren Buffett and JPMorgan Chase & Co.'s Jamie Dimon urged companies to stop issuing quarterly earnings guidance.

American firms should no longer have to report on a quarterly basis, U.S. president Donald Trump has said.

President Trump has instructed the American markets watchdog to investigate ending the quarterly reporting requirement for public companies that has been in place for almost 50 years.

SEC spokesmen didn't immediately respond to a request for comment.

Trump said he got the idea after speaking with "some of the world's top business leaders".

Ultimately, the SEC is an independent commission-led agency and the president can not force it to change policies.

Other reports by Iphone Fresh

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