SEC Receives Over 200,000 Comments Opposing Plan to Make Quarterly Earnings Reports Optional
The Securities and Exchange Commission received more than 200,000 public comments opposing its proposal to make quarterly earnings reports optional for publicly traded companies. The overwhelming majority of commenters argued that eliminating these reports would reduce transparency, increase market volatility, and harm investors by limiting access to timely financial information. Despite the strong opposition, the SEC is expected to proceed with the plan, though some details may be modified before finalization. Comments came from a wide range of stakeholders including individuals, academics, nonprofits, retirement funds, and corporations like Exxon Mobil. Some commenters emphasized that quarterly reporting serves as a critical mechanism for holding companies accountable. The idea has historical roots in Donald Trump's 2016 campaign and was revived by the Long-Term Stock Exchange founder Eric Ries last year.
Topics: financial reporting investor protection transparency