A new trading venue in Texas has changed the game and could be a sign that the idea is gaining traction
According to reports, President Donald Trump wants to ditch quarterly earnings reports.
He believes American companies should report every six months instead, saying the move would save money, promote long-term thinking, and arguing that a change would limit shortsighted thinking by executives (cutting budgets and delaying hires, for example).
The Securities and Exchange Commission (SEC) has required quarterly reporting since 1970, but a recent change to a bi-annual reporting model in the long term Stock Exchange (LTSE), a new trading venue in Texas, could be a sign that the idea, which was originally floated during the president’s first term, has gained traction.
The LTSE allows companies to report every six months, and the Nasdaq has shown interest in allowing the same to “focus on properly running their companies,” according to reports.
Supporters of the measure claim the move would improve company focus and promote sustainable growth, while others are concerned about a loss of transparency.
This is an ongoing story. Check back for updates.
Photo courtesy of WhiteHouse.gov.
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