SEC proposes semi-annual reporting for public companies

The SEC recently proposed changes that would allow public companies to switch from quarterly to semiannual reporting.

Currently, public companies covered by Sections 13(a) or 15(d) of the Securities Exchange Act must submit quarterly updates on Form 10-Q.

The proposal, if implemented, would allow those companies to choose to file interim results twice a year on a new Form 10-S.

Companies that choose the proposed option would then provide one semi-annual report and one annual report in each financial year, instead of three quarterly filings plus the annual report.

According to the SEC, the initiative is aimed at allowing companies to select a reporting cycle they believe is most appropriate for their business and investors. Read more.