SEC releases proposal to usher Wall Street into optional semiannual reporting

U.S. financial regulators are proposing to switch required filings for publicly traded companies from quarterly reporting to semiannual.

The Securities and Exchange Commission on Tuesday released its amended proposal for optional semiannual reporting for companies on Wall Street. SEC officials say the change in frequency of reporting won’t impact the type of information disclosed publicly. Companies will be expected to file a new form called Form 10-S in lieu of the traditional Form 10-Q if they choose to report twice a year.