PANews May 1 news, according to Jinshi reports, the U.S. Securities and Exchange Commission (SEC) has passed a plan that allows listed companies to reduce the frequency of financial report disclosures from once a quarter to once every six months, which has passed the White House review and is closer to implementation. According to information from the government website, the review was completed earlier this week, enabling the SEC to formally announce the plan and seek public opinion. After receiving feedback, the commissioners will also need to vote again on the final version before the rules can take effect. Voting usually occurs several months later.

After U.S. President Trump called last year for changing quarterly reports to semi-annual reports, the SEC has been promoting this reform of corporate information disclosure requirements. Since 1970, U.S. publicly listed companies have been required to disclose financial information quarterly.

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