finance
SEC Proposes Optional Semiannual Reporting for Public Companies
The U.S. Securities and Exchange Commission proposed amendments allowing public companies to choose semiannual reporting over quarterly filings. The move, part of Chairman Paul Atkins' agenda to encourage more IPOs, introduces a new Form 10-S with deadlines of 40 or 45 days. The optional change aims to provide flexibility while maintaining material disclosures to investors.
SA
SQ
finance.yahoo.comAudio version
Tap play to generate a narrated version.
U.S. Securities and Exchange Commission on May 5, 2026, proposed amendments that would allow public companies to opt for semiannual reporting instead of the traditional quarterly filings, introducing a new Form 10-S for those electing the change. SEC Chairman Paul S.
Atkins stated that the proposal is part of his 'Make IPOs Great Again agenda,' aimed at encouraging more companies to go public by offering increased regulatory flexibility. The amendments would let companies and their investors determine the interim reporting frequency that best serves their needs, while ensuring material information reaches investors.
Under the proposal, the filing deadline for semiannual reports on Form 10-S would be 40 or 45 days after the end of the first semiannual period of the fiscal year, depending on the company's filer status.
The SEC also plans to amend Regulation S-X to reflect this option and simplify existing financial statement requirements for periodic reports, registration statements, and proxy statements. Atkins elaborated in a statement: 'Public companies have an obligation under the federal securities laws to provide information that is material to investors.
Yet, the rigidity of the SEC’s rules has prevented companies and their investors from determining for themselves the interim reporting frequency that best serves their business needs and investors.
He added that over the next few months, the commission will consider additional proposals to redefine what it means to be a public company and make it attractive again. The idea for semiannual reporting originated from a conversation between PepsiCo’s former CEO and President Trump during his first term, according to reporting from The Hollywood Reporter.
The SEC's goal includes promoting long-term thinking among management, as quarterly reports can encourage short-termism, and addressing the trend where valuable firms like SpaceX, OpenAI, and Anthropic remain private.
