Bite-Sized Business Law

The End of Quarterly Reporting?

The Corporate Law Center at Fordham University School of Law Episode 80

Challenging the long-established bedrock of U.S. financial regulation, a proposed rule change to shift public companies from mandatory quarterly reporting to a semiannual schedule has reignited a critical debate over corporate efficiency, investor demands, and the core philosophy of corporate governance. Is this the end of quarterly reporting? Joining host Amy Martella once again is James (Jim) Park, professor of law and the director of community quality and justice at UCLA Law School. In his previous appearance, they discussed his book The Valuation Treadmill. Today, he returns to share insights on President Trump’s suggestion to shift away from quarterly reporting and what it means for corporate America. He unpacks the SEC rules that mandate reporting, breaks down the proposal—including how President Trump came to support it—and explores the key arguments from its supporters. They also discuss the potential benefits and drawbacks, why the SEC should consider retail investors’ perspectives, and how reporting practices in other countries compare to the U.S. For more on the shift away from quarterly reporting, including whether moving from four reports to two is truly significant, and Jim’s take on what the Trump administration might gain, be sure to listen in!

Key Points From This Episode:

  • Jim unpacks quarterly reporting and the rule and/or regulation that requires it.
  • Breaking down quarterly reports: earnings, projections, and forecasts.
  • Jim’s insights on what changed the appetite for annual reporting.
  • The ins and outs of President Trump's new proposal and how he got the idea.
  • Proposal supporters and the argument for why it should go through.
  • Potential benefits to investors under a reduced reporting model.
  • The drawbacks and challenges critics are highlighting. 
  • Jim’s thoughts on why the SEC should consider listening to retail investor arguments.
  • Is the move from four to two times a year really that meaningful?
  • How other countries handle reporting: transparency, information, and stakeholders.
  • What’s in it, politically, for the Trump administration: reducing the role of government with respect to regulation.

Links Mentioned in Today’s Episode:

James (Jim) Park on LinkedIn

The Valuation Treadmill

U.S. Securities and Exchange Commission (SEC)

Paul Atkins

President Donald J. Trump on X

Securities Exchange Act of 1934

Amelia Martella on LinkedIn

Fordham University School of Law Corporate Law Center