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SEC advances Trump-backed proposal to end mandatory quarterly earnings reports

Cnbc · · 233 words · By Yun Li
open_in_new Read the original article: https://www.cnbc.com/2026/05/05/sec-is-close-to-ending-mandatory-quarterly-earni…

fact_checkFact-Check Results

6 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

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“U.S. regulators are advancing a proposal that would allow public companies to scrap quarterly earnings reports in favor of a twice-a-year disclosure regime”
CORROBORATED
Multiple independent web search results confirm that the SEC is proposing to allow public companies to replace quarterly earnings reports with semiannual filings.
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web search NEUTRAL — SEC issues proposal allowing semiannual reporting for public companies.SEC is proposing to let public companies swap quarterly earnings reports for twice-a-year filings.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Creation of a New Semiannual Report: Companies can elect annually to file a single semiannual report rather than three Form 10-Qs. Annual Election: The election to file semiannually (or to revert to f…
https://www.jdsupra.com/legalnews/sec-proposes-optional-semi…
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web search NEUTRAL — The U.S. Securities and Exchange Commission (SEC) officially proposed rule amendments on Wednesday that would allow public companies to file semiannual reports instead of quarterly filings.
https://coinalertnews.com/news/2026/05/06/sec-semiannual-rep…
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“The Securities and Exchange Commission formally proposed a rule change that would allow companies to file semiannual reports on a new form 10-S in place of the traditional quarterly 10-Qs.”
CORROBORATED
Web search results specifically mention the proposal of a new 'Form 10-S' to replace the traditional 'Form 10-Q' for semiannual reporting.
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wikipedia NEUTRAL — The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purp…
https://en.wikipedia.org/wiki/United_States_Securities_and_E…
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wikipedia NEUTRAL — SEC, sec, or Sec may refer to:
https://en.wikipedia.org/wiki/SEC
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wikipedia NEUTRAL — The Southeastern Conference (SEC) is a collegiate athletic conference whose member institutions are located primarily in the South Central and Southeastern United States. Its 16 members include the fl…
https://en.wikipedia.org/wiki/Southeastern_Conference
+ 3 more evidence sources
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“Firms would still submit a full annual report.”
CORROBORATED
Multiple sources state that the proposal allows for one semiannual report 'in lieu of three quarterly reports', while maintaining the requirement for one annual report.
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web search NEUTRAL — The proposed rule would create a parallel filing regime to the existing quarterly regime: Creation of a New Semiannual Report: Companies can elect annually to file a single semiannual report rather th…
https://www.jdsupra.com/legalnews/sec-proposes-optional-semi…
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web search NEUTRAL — Today, the @SECGov proposed amendments to provide public companies with the option of filing one semiannual report, on a new Form 10-S, in lieu of three quarterly reports on Form 10-Q. Here's why it m…
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — The SEC proposal would let public companies report earnings twice per year, potentially changing transparency and investor expectations.SEC officials also indicated the switch would be limited to annu…
https://misryoum.com/sec-proposal-would-let-firms-report-ear…
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“SEC Chairman Paul Atkins said in a statement Tuesday”
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Multiple news sources (The Globe and Mail, and others) quote Paul Atkins as the Chair of the SEC issuing a statement on Tuesday regarding the rigidity of reporting rules.
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wikipedia NEUTRAL — From September 17 through September 22, 2025, the American Broadcasting Company (ABC) and its corporate parent, the Walt Disney Company, suspended production of the late-night talk show Jimmy Kimmel L…
https://en.wikipedia.org/wiki/Suspension_of_Jimmy_Kimmel_Liv…
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wikipedia NEUTRAL — Gary Scott Gensler (born October 18, 1957) is an American former government official and former investment banker who served as the chair of the U.S. Securities and Exchange Commission (SEC) from 2021…
https://en.wikipedia.org/wiki/Gary_Gensler
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wikipedia NEUTRAL — Donald Trump's second presidential transition began when he won the United States presidential election on November 5, 2024, and became the president-elect. Trump had become president-elect once the e…
https://en.wikipedia.org/wiki/Second_presidential_transition…
+ 3 more evidence sources
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“The proposal now goes to a 60-day public comment period.”
CORROBORATED
Multiple sources, including MarketWatch and JDSupra, explicitly state that the proposal is subject to a 60-day public comment period.
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wikipedia NEUTRAL — SEC, sec, or Sec may refer to:
https://en.wikipedia.org/wiki/SEC
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wikipedia NEUTRAL — The Southeastern Conference (SEC) is a collegiate athletic conference whose member institutions are located primarily in the South Central and Southeastern United States. Its 16 members include the fl…
https://en.wikipedia.org/wiki/Southeastern_Conference
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wikipedia NEUTRAL — The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purp…
https://en.wikipedia.org/wiki/United_States_Securities_and_E…
+ 3 more evidence sources
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“The rules can be changed by a majority vote on the SEC.”
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Web search results indicate that proposals are sent back to the SEC for a 'vote by the commission members' before they can be finalized, confirming the rule-changing process involves a vote.
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web search NEUTRAL — Later SEC commissioners and chairmen include William O. Douglas, Jerome Frank, and William J. Casey. Since 1994, most registration statements (and associated materials) filed with the SEC can be acces…
https://en.wikipedia.org/wiki/United_States_Securities_and_E…
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web search NEUTRAL — View Commission Votes. Read Enforcement News.Material Matters With SEC Chairman Paul Atkins. The work at the U.S. Securities and Exchange Commission impacts everyday investors, business owners, and ev…
https://www.sec.gov/
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web search NEUTRAL — The US Securities and Exchange Commission headquarters in Washington. Photographer: Tierney L. Cross/Bloomberg.Once the OMB finishes reviewing the draft proposal, it will be sent back to the SEC for a…
https://www.bloomberg.com/news/articles/2026-05-05/sec-rule-…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.