SEC to propose rule change on Trump's call to end quarterly earnings reporting, says Chair Atkins

Paul Atkins, president of the U.S. Securities and Exchange Commission, said his bureau volition suggest a regularisation alteration pursuing President Donald Trump's telephone to extremity net reports connected a quarterly ground and power to semiannual.

"I invited that posting by the president, and I person talked to him astir it," Atkins said connected CNBC's "Squawk Box" Friday. "In principle, I deliberation to suggest alteration successful what our rules are now, I deliberation would beryllium a bully mode forward, and past we'll see that and determination guardant aft that.. for the involvement of shareholders and nationalist companies, the marketplace tin determine what the due cadence is."

Current regulations necessitate companies to study net connected a quarterly basis, though providing forecasts is voluntary. The rules tin beryllium changed by conscionable a bulk ballot connected the SEC, wherever Republicans presently clasp a 3-1 voting majority, with 1 unfastened seat. 

Atkins noted that overseas backstage issuers already adhere to semi-annual reporting.

"You person to recognize that close now, semi-annual reporting is nary alien to our markets, overseas backstage issuers bash it close now," Atkins said. "There's been a batch of treatment of the past fewer years astir however this quarterly reporting benignant of emphasizes a abbreviated word benignant of thinking."

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