The Securities and Exchange Commission (SEC) has proposed new regulations that would allow public companies to file semiannual reports, rather than the traditionally required quarterly reports.
Currently, public companies have to file quarterly reports via Form 10-Q to meet their interim reporting obligations under federal securities laws. Under the proposal, companies can choose to file these reports semi-annually on the new Form 10-S, the SEC said in a May 5 statement.
“As a result, companies that elect to file semiannual reports would file one semiannual report and one annual report for each fiscal year in lieu of three quarterly reports and one annual report,” the agency said….