Less Disclosure, More Questions: Evaluating the SEC’s Semiannual Reporting Proposal
Even if the Securities and Exchange Commission gives public companies permission to report less often, will investors, analysts and lenders actually let them? That is the central question raised by the Commission’s May 5 proposal to allow U.S. public companies to replace quarterly Form 10-Q filings with semiannual reports on a new Form 10-S — the most significant proposed change to the periodic reporting framework since quarterly reporting became mandatory in 1970.