The government shutdown has delayed the Trump administration’s plans to shift public companies from quarterly to semiannual reporting, Securities and Exchange Commission Chair Paul Atkins said Tuesday.
President Trump in September floated the idea of scrapping quarterly reporting. Atkins said then the SEC would move to put the plan into place. U.S. public companies have been required to report quarterly since 1970.
The SEC has been working on a proposal that it will put through the standard rule-making process, Atkins said at a conference in New York organized by MFA, a finance-industry trade group. The SEC has heard praise and criticism of the proposed rule, Atkins said.