SEC Proposes Semiannual Reporting for Public Companies in Lieu of Quarterly Reporting

The SEC has issued a proposed rule that would amend its interim reporting requirements to give registrants the option of filing their interim financial statements semiannually rather than quarterly. The proposed amendments could significantly affect the frequency, content, and preparation of a registrant’s interim financial reporting. The proposal, which would apply to all companies subject to the requirements of Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, is intended to provide registrants with greater flexibility in how they report interim financial information while continuing to require disclosure of information that is material to investors.

For more information, see the press release and fact sheet — as well as the statements by SEC Chairman Paul Atkins and SEC Commissioners Hester Peirce and Mark Uyeda — on the SEC’s Web site.