[U.S. SEC Proposal to Change Financial Reporting to Semi-Annual Passes White House Review] Golden Finance reports, May 1st—The U.S. Securities and Exchange Commission (SEC) has advanced a plan allowing publicly listed companies to reduce the frequency of financial reporting from quarterly to semi-annual. This proposal has passed White House review, bringing it closer to implementation. According to information on the government website, the review was completed earlier this week, enabling the SEC to formally announce the plan and solicit public feedback. After receiving comments, the commissioners will need to vote again on the final version before the rule can take effect. Such votes typically occur months later. Since U.S. President Donald Trump called for changing quarterly reports to semi-annual reports last year, the SEC has been working on this reform of corporate disclosure requirements. Since 1970, U.S. publicly listed companies have been required to disclose financial information on a quarterly basis.