Trump tweets that US could move to six-monthly financial reporting

U.S.
President Donald Trump hosts a meeting with business leaders in
the Roosevelt Room of the White House in Washington January 23,
2017. From left are Corning CEO Wendell Weeks, Trump, Johnson
& Johnson CEO Alex Gorsky and Dell CEO Michael
Dell.
Kevin
Lamarque/Reuters

• Trump tweets that US could abandon quarterly financial
  reporting after meetings with business leaders.
• He said he has asked the SEC to investigate making such
  a change.

President Donald Trump on Friday said that he has instructed the
US Securities and Exchanges Commission to investigate the
abolition of quarterly financial reporting for US companies,
after discussions with business leaders.

Business leaders have asked him to move towards a system of
reporting every six months, he said on Twitter.

“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 U.S,” Trump
tweeted.

“”Stop quarterly reporting & go to a six month system,” said
one. That would allow greater flexibility & save money. I
have asked the SEC to study!” — he continued.

Under current rules, listed companies in the US must report
financial results every three months, but in many other countries
around the world, businesses are only mandated to do so twice per
year, a model many US businesspeople wish to adopt.

More follows …