End of quarterly reports?

Donald Trump

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

Kevin Lamarque/ReutersU.S. President Donald Trump hosts a meeting with business leaders in the Roosevelt Room of the White House in Washington January 23, 2017.

Publicly traded companies in the United States, as well as Canada, now file their earnings reports every three months, or four times per year.

"I'd like to see twice but we're going to see", Trump said.

The SEC consists of five commissioners appointed by the president, although there now are only four in place, three named by Trump. "Stop quarterly reporting & go to a six month system", said one.

Trump believes he has the support of some executives for a change.

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There will now be an investigation into the impact of this policy idea by the Securities and Exchange Commission (SEC), the president added.

"The president has highlighted a key consideration for American companies and, importantly, American investors and their families - encouraging long-term investment in our country", Clayton said. The U.S. enacted quarterly reporting in.

The Trump administration wants to cut red tape that it says is responsible for a 50% drop in companies coming to market over the past two decades, including relaxing some of the disclosure and compliance requirements for listed companies and those looking to go public.

Billionaire investor Warren Buffett and JPMorgan Chase & Co Chief Executive Jamie Dimon wrote in the Wall Street Journal in June that US companies should move away from giving quarterly guidance, arguing it holds back spending on hiring, investment and research, but did not call for an end to quarterly reporting. The report compares company earnings with that of the previous year. But some argue the quarterly requirement puts unnecessary pressure on companies because it forces them to focus on short-term results.

Nooyi issued a statement yesterday about the conversation with the president, saying that many market participants "have been discussing how to better orient corporations to have a more long-term view". They found that long-term investments declined at companies that were required to step up the frequency of their reporting.

The European Commission, among others, only requires semi-annual financial reports of companies there, although major European companies whose stock is traded in both the United States and Europe will report on a quarterly basis in order to comply with SEC regulations. In addition to financial information about earnings and cash flow, these reports also include qualitative information in the form of earnings guidance, which are 'forward-looking' statements from management about what the company plans to do in the future.

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