SEC Proposal for Semiannual Reporting Faces Pushback
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The Reddit-based retail investor community famous for launching the meme-stock phenomenon filed a public comment Tuesday opposing a proposed shift to semiannual, rather than quarterly, securities reports. Securities and Exchange Commission Chairman Paul Atkins unveiled the fast-tracked plan after President Donald Trump called for an end to decades-old rules mandating quarterly filing of the public disclosures known as 10-Qs. Mike McClean, Head of US Policy at Barclays, discusses the SEC's proposal to change reporting cadence, as well as what Trump is facing when he returns home from the ongoing summit in China.