March 16 (Reuters) - The U.S. Securities and Exchange Commission is preparing a proposal to scrap the requirement for companies to report their earnings every quarter and giving them the option to share results twice a year, the Wall Street Journal reported on Monday.
The proposal could be published as soon as next month, the report said, citing people familiar with the matter, adding that regulators are in talks with major exchanges to discuss how their rules may need to be adjusted.
The SEC will
vote on the proposal once it is published, after a public comment period which typically lasts at least 30 days, the report said.
The WSJ report added that the rule is expected to make quarterly reporting optional and not eliminate it altogether.
The SEC declined to comment. Reuters could not independently verify the report.
Late last year, U.S. President Donald Trump renewed calls for ending quarterly reporting for companies, with SEC chair Paul Atkins backing the push and saying the agency could release a proposal by the end of 2025 or in early 2026.
The proposed change in the reporting standard would allow listed companies to publish results every six months instead of the current mandate to report figures every 90 days.
Trump, who first floated the idea in his first term as president, has argued the change in requirements would discourage shortsightedness from public companies while cutting costs. Skeptics, however, caution delaying disclosures could reduce transparency and heighten market volatility.
(Reporting by Vallari Srivastava and Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)
