[U.S. SEC Proposes Eliminating Quarterly Reporting Requirement, Allowing Public Companies to Switch to Semiannual Reports] Reported by Golden Finance, on May 6, the U.S. Securities and Exchange Commission (SEC) proposed on Tuesday local time to end the quarterly reporting requirement for companies trading in the U.S., allowing them to switch to semiannual reports. This idea was first introduced during Trump's first term and was reinstated as a government priority last September. In a statement on Tuesday, SEC Chairman Atkins said: 'The rigidity of SEC rules prevents companies and their investors from determining the mid-term reporting frequency that best suits their business needs and investor interests.' This move has garnered support from many companies and investment banks like JPMorgan Chase, which argue that quarterly reports impose a heavy and costly burden on businesses. They also claim that quarterly reporting fuels corporate short-termism, sacrifices long-term planning, and has been one of the factors behind the sharp decline in the number of U.S. public companies over the past decade. (Jin10)