What happened

President Donald Trump yesterday called for the U.S. to end its 55-year-old practice of requiring publicly traded companies to post quarterly earnings reports. He suggested that the Securities and Exchange Commission mandate six-month corporate earnings reports instead.

Who said what

Changing the reporting schedule would “save money and allow managers to focus on properly running their companies,” Trump said on social media , comparing the current quarterly report schedule unfavorably to China’s “50 to 100 year view on management of a company.” Trump also asked the SEC to consider switching to semi-annual reports during his first term, but no change was made.

Relaxing reporting requirements “might ease the burden for corporate managers” and limit the widely acknowle

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