May 7, 2026
I am absolutely AGAINST changing the rules to allow semiannual reporting. It harms the investing public by taking away transparency. Argument 1 - Quarterly reporting is too costly. This argument is spurious. The infrastructure for reporting already exists and will become less expensive over time with the implementations of AI. Argument 2 - Quarterly reporting impacts a company's ability to plan for the long term. If a Company's leadership doesn't like it, then they are free to take the company private. If a Company is offering its securities to the public, e.g. the average investor, it is obligated to be transparent and provide financial performance on a frequent basis. Allowing companies to report less frequently only provides more cover for insider trading which the SEC is already neglecting to pursue. Please stop spending your resources on pushing through unnecessary changes and spend your time investigating the rampant insider trading.