Trump asks SEC to study abolishing quarterly earnings reports [CNNMoney.com]
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Source: CNNMoney.com
President Trump asks SEC to study abolishing quarterly earnings reportsPresident Donald Trump says he has asked the SEC to study whether to stop requiring companies to report quarterly earnings.In speaking to business leaders, one told him a twice-a-year reporting system would allow companies the flexibility and cost savings companies need to "Make business (jobs) even better in the U.S." Trump tweeted Friday morning. Trump said he directed the SEC to look into a change in its requirements.In a statement to reporters, Trump said outgoing Pepsi CEO Indra Nooyi suggested a six-month reporting schedule."I'd like to see twice but we're going to see," Trump said. "So we're looking at that very very curiously, we're looking at twice a year instead of four times a year."Public companies must report their sales, profits and the state of the company's balance sheet every quarter. That has been required since the Securities Exchange Act of 1934, which was put in place to give more confidence an
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