- Trump tweets the US could abandon quarterly financial reporting after meetings with business leaders.
- He said he has asked the US Securities and Exchange Commission to investigate making such a change.
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Trump suggests the US could make a huge change to the way America's biggest companies report their earnings
"In speaking with some of the world’s top business leaders I asked what it is that would make business (jobs) even better in the U.S," Trump tweeted.
President Donald Trump on Friday said he has instructed the US Securities and Exchanges Commission to investigate the abolition of quarterly financial reporting for US companies, after discussions with business leaders.
One business leader asked him to move towards a system of reporting every six months, he said on Twitter.
"In speaking with some of the world’s top business leaders I asked what it is that would make business (jobs) even better in the U.S," Trump tweeted.
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"Stop quarterly reporting & go to a six month system," said one. That would allow greater flexibility & save money. I have asked the SEC to study!" — he continued.
Under current rules, listed companies in the US must report financial results every three months, but in many other countries around the world, businesses are only mandated to do so twice per year, a model many US businesspeople wish to adopt.
In June, in a joint letter published in the Wall Street Journal, JPMorgan CEO Jamie Dimon and legendary Berkshire Hathaway boss Warren Buffett argued against the practice of quarterly financial forecasting, saying it leads to "
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