WASHINGTON—Public companies won’t get a break from quarterly earnings reporting in the near term, an idea that President Trump asked U.S. regulators to study.
The Securities and Exchange Commission may weigh the idea of moving to six-month reporting for smaller firms, but “I don’t think quarterly reporting is going to change for our top names anytime soon,” SEC Chairman Jay Clayton said Thursday.
In August, Trump asked regulators to review the decades-old requirement that public companies release earnings quarterly, a change some executives support to promote longer-term planning. But some investors worry such a move could reduce transparency into corporate performance.
Trump had said the change would help ease regulatory costs and spur growth. He said the idea came from a prominent CEO: PepsiCo Inc. CEO Indra Nooyi. She raised the issue at a dinner Mr. Trump held with 13 corporate executives at the president’s golf course in Bedminster, N.J., in the context of improving growth, people familiar with the matter said at the time.
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