SEC draws 200,000+ comments opposing its plan to make quarterly earnings reports optional for public companies

The U.S. Securities and Exchange Commission (SEC) received over 200,000 public comments during the review period for its proposal to make quarterly earnings reports optional for public companies. The vast majority of comments opposed the policy, arguing it would reduce transparency, increase market volatility, and harm investors by limiting timely information. Despite the overwhelming opposition, the SEC is expected to proceed with the proposal, though the final language may be altered. Comments came from a wide range of sources including the general public, academics, nonprofits, retirement funds, and corporations like Exxon Mobil, which supported the change. The proposal, originally raised by Donald Trump during his first term and revived by the Long-Term Stock Exchange, aims to reduce reporting burdens on companies, similar to practices in Europe and the UK. An anonymous grassroots campaign generated at least 20,000 pre-written comments in favor of retaining quarterly reports.