Wall Street Investors Push SEC to Keep Quarterly Company Reporting Rules

Wall Street investors are urging the Securities and Exchange Commission to keep quarterly reporting requirements for public companies, arguing that frequent disclosures are essential for making investment decisions, The pushback comes after the regulator proposed allowing companies to switch to semi-annual reports to reduce compliance costs and ease short-term market pressure, the report said. Investor groups, including the Investment Company Institute and Managed Funds Association, opposed the move, while companies and exchanges, including Nasdaq (NDAQ) and JPMorgan Chase (JPM), have backed the proposal, The SEC has not set a timeline for a final decision.