SEC Proposes to Eliminate Quarterly-Reporting Requirement for Public Companies

By Kelly Cloonan

The Securities and Exchange Commission proposed amendments that would give public companies the option to file reports semiannually, rather than on a quarterly basis as required by federal securities laws.

Under the SEC's proposed amendments, public companies could choose to file one semiannual report and one annual report for each fiscal year in lieu of three quarterly reports and one annual report. The proposal is subject to a public comment period of 60 days, after which the SEC will vote on it, the regulator said.

The proposed amendments aim to give companies greater flexibility to choose the reporting frequency that's best for them and their investors, the SEC said.

"The rigidity of the SEC's rules has prevented companies and their investors from determining for themselves the interim reporting frequency that best serves their business needs and investors," said SEC Chairman Paul Atkins in a statement.

Companies that opt for the proposed semiannual reporting option would file on a new Form 10-S, with a deadline of 40 or 45 days after the end of the first semiannual period of the fiscal year, the SEC said. Public companies are currently required to file quarterly reports on Form 10-Q.

The proposal would also amend a regulation that governs the financial-statement requirements for periodic reports, registration statements and proxy statements, to reflect the new semiannual-reporting option and simplify the existing financial-statement requirements, the SEC said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 05, 2026 13:35 ET (17:35 GMT)