The US SEC's plan to allow listed companies to reduce the frequency of financial disclosure to semi-annual reporting has passed the White House review

The U.S. Securities and Exchange Commission (SEC)'s plan to allow listed companies to reduce the frequency of financial disclosure from quarterly to semi-annual reporting has passed the White House review and is closer to implementation. According to information on the U.S. government website, the review was completed earlier this week, allowing the SEC to formally announce the plan and solicit public comment.<br /> After receiving feedback, members will need to vote on the final version again before the rules can take effect. Voting is usually several months later. The SEC has been advancing the plan to reform corporate disclosure requirements after President Trump called last year for changing quarterly reports to semi-annual reports. Since 1970, U.S. listed companies have been required to disclose financial information on a quarterly basis.