The SEC wants to let companies report earnings twice a year

The SEC just proposed letting public companies report earnings twice a year instead of four. Paul Atkins called it flexibility. Reducing rigidity. Part of his 'Make IPOs Great Again agenda.' [pause] Jamie Dimon and Warren Buffett have been pushing this for years. Trump endorsed it. Now it's an SEC rule proposal. Long-termism dressed up as deregulation. [pause] Here's what it actually does. It doubles the window between you and the numbers. Forty to forty-five days after each half-year. Two looks at a public company's books per year. Two. [pause] Atkins also said companies still have an obligation to disclose anything material to investors. Technically true. Also the kind of sentence you say when you want credit for a guardrail you're removing. [pause] Less disclosure doesn't make you a better business. It makes you harder to read. And harder to read is exactly what some of these companies want.