SEC Chairman Atkins Backs Trump: Wall Street Could Say Goodbye to Quarterly Earnings

The U.S. Securities and Exchange Commission (SEC), led by Paul Atkins, is preparing to push through a change that could shake up Wall Street. Instead of mandatory quarterly reports, companies would be allowed to publish earnings only twice a year – exactly what Donald Trump has been calling for.

Trump Pushes, SEC Listens Earlier this week, Donald Trump called for freeing companies from the pressure of quarterly numbers and moving to semiannual reporting. On Friday, Atkins confirmed live on CNBC that he agrees with the president:

“I welcome this proposal, and we’ve already talked about it.” According to Atkins, the decision would not be mandatory. Each company could choose whether to continue reporting every three months or switch to a six-month cycle. “The market can decide the right cadence,” Atkins added.

Republicans Hold the Majority at SEC Passing the change would require only a majority vote. With Republicans currently holding three seats against one Democrat, the proposal has a strong chance of approval. Trump argues that fewer reports would save money and allow executives to focus on long-term management. Critics, however, warn that reduced transparency could hurt retail investors, while large funds and insiders would gain an edge.

A Global Trend: Fewer Reports, More Long-Term Thinking Atkins pointed out that semiannual reporting is not new in the U.S. – foreign companies listed on American exchanges have been doing it for years. Inspiration also comes from the $1.6 trillion Norwegian sovereign wealth fund, which recently pushed for the same change: fewer reports, more room for strategic decision-making. The idea is also backed by the Long-Term Stock Exchange, which promotes patience and a shift away from short-term quarterly pressures as the path to sustainable growth.

The Debate Isn’t New, But This Time It Has Momentum Whether quarterly reports force companies to prioritize short-term results over long-term strategy has been debated for years. The difference now is that the change has both political and institutional support. The process will still take time. The SEC must first submit the proposal for public comment before a final vote. Even so, with the current makeup of the commission, the proposal has a clear path forward.

What’s Next? Atkins made it clear that change is coming:

“Proposing an adjustment to our current system is the right step forward, and then we’ll take it from there,” he said. Wall Street may soon face the end of its traditional quarterly rhythm, which has dictated markets for decades. If so, it will mark yet another step in Trump’s broader effort to reshape America’s financial system on his own terms.

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