The SEC may be about to blow up the quarterly earnings cycle. Here’s why CFOs are nervous.

Good morning. CFOs of public companies may soon need to rethink the cadence of financial reporting—and everything that comes with it.

The Securities and Exchange Commission is reportedly preparing a proposal that could allow U.S. public companies to report financial results semiannually instead of quarterly, with the agency expected to release the measure as soon as April, according to The Wall Street Journal. It would make quarterly filings optional rather than mandatory, though it has not yet been finalized or adopted.