Trump Call For SEC To Study Reporting Rules Sparks Debate
20 August, 2018, 21:16 | Author: Gerard Cortez
SECChairmanJay Clayton, a Trump nominee, has said increasing the number of public companies and initial public offerings are among his top priorities.
President Donald Trump on Friday called on the U.S. Securities and Exchange Commission to study ending quarterly reporting requirements for public companies and switch to a six-month system in order to cut costs and spur growth, a major policy shift that experts say would likely be embraced by many businesses but resisted by investors.
Publicly traded companies in the United States now file their earnings reports every three months, or four times a year.
Jay Clayton, Chairman of the Securities and Exchange Commission, listens during an interview with CNBC at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in NY, U.S., June 6, 2018. "I have asked the SEC to study!"
But he said energy companies would probably still report some oil and gas well data every three months to please investors.
Others said quarterly disclosures are essential for investment decisions and support richer US stock valuations, and that a change could make shares more volatile. At a July rally in Florida, Trump said the chief executive of "one of the greatest companies in the world" urged him to press his tariff fight even though it would impact his business. "Either way we're talking about a very short-term period", Yardeni added. Visit MarketWatch.com for more information on this news. "Many investors and market participants share this perspective on the importance of long-term investing". Nooyi said she thinks it would be beneficial to harmonize American and European rules on financial reporting. "One of the inherent issues with quarterly reporting is that it does tend to drive management to make decisions geared toward short-term metrics, which is not always in everyone's best interest". "So we're looking at that very very curiously, we're looking at twice a year instead of four times a year".
But scrapping quarterly reporting is not now on the SEC's near-term agenda, according to public records.
Quarterly earnings guidance is used by Wall Street and City analysts to build their earnings estimates and gauge company performance against these figures. The most recent data from the United Kingdom shows that only 57 of the companies in the benchmark FTSE 100 index were still issuing quarterly reports as of September 2017, according to the Investment Association.
And he said, the SEC already had implemented some regulatory changes and continued to consider others that "encourage long-term capital formation while preserving and, in many instances, enhancing key investor protections".
Quarterly reporting has always been a cornerstone of USA capital markets, with bank analysts known for making closely monitored recommendations on buying or selling stock tied to the numbers.
"Investors need timely, accurate financial information to make informed investment decisions", Amy Borrus, deputy director of the Council of Institutional Investors, said in a statement.
The rash appears as red and blotchy marks on the hairline that travel down over several days, turning brown and eventually fading. The CDC says two doses of MMR vaccine are about 97% effective at preventing measles; one dose is about 93% effective.
She said Sunday that she had listened to one after the book closed. "I'm in [Omarosa's] book on page 149", Lutz tweeted . She alleges tapes exist-and she has heard one-of him using the N-word racial epithet.
Asked if the conditions had favoured the opposition, Kohli said, "We can't really think about those things". Chris Woakes was named the "Man of The Match" for his "outstanding" performance with both the bat and ball.
Meanwhile, Turkish people in social media tend to expand boycott in other USA products ranging from textile to fast food. The lira's sharp decline has sparked fears in the worldwide community of a Turkish economic crisis.
Later, when Pentagon officials told reporters the cost would be $ 12 million , again, there was outrage. It later emerged that the drills cost about $14 million, a fraction of the price of a military parade.
The Turkish lira plummeted to a record low on Monday, losing almost 40 percent of its value since the start of 2018. After reaching record lows on Monday, the lira rebounded to stronger than 6.0 against the dollar on Wednesday.
Kevin De Bruyne will be out for three months due to a knee injury but will not require surgery, Manchester City have confirmed. He featured as a second-half substitute in City's league-opening win over Arsenal at the Emirates Stadium last Sunday.
The 27-year-old notched up 12 goals and 21 assists last term to help the Etihad giants win the league and the EFL Cup. A club statement said the full extent of the injury is not yet known but the Belgium global was undergoing tests.
Food packets and drinking water are also being rushed. "Situation is really grave but we are managing things on a war footing". Rescue operations are underway and the federal government has sent additional forces to assist local efforts.
He served three times as India's prime minister; for 13 days in 1996, for 11 months from 1998 to 1999, and then from 1998 to 2004. He was being treated for a kidney tract infection, urinary tract infection, low urine output and chest congestion.
The Portuguese manager had warned United's board that the club face a "difficult season" if the squad was not improved. The Argentine somehow managed to impress Jorge Sampaoli and earned a call-up for the World Cup in Russian Federation .
Aretha Franklin - Nobody like you
No one has ever given us pleasure with such full-throated abandon as Aretha Franklin did, and does. It featured a close-up image of Franklin and a still photo of LaBelle singing in the background.
Oil falls as USA crude inventories jump unexpectedly
Crude prices were lower Monday morning, with West Texas Intermediate for September delivery trading down about 0.4% at $67.33. Global demand growth for 2018 was forecast at 1.64 million barrels a day, down by 10,000 from the prior month's estimate.
Ben Stokes rejoins England squad after acquittal
The 27-year-old is facing a trial for his involvement in a Bristol nightclub brawl, which took place last year in September. He said that deciding to use a bottle as a weapon would be a "difficult decision for me to take".
Omarosa taped call with Trump after she was sacked
Trump is the one who brought her on to the West Wing, where she earned $179,700 a year, according to White House records. The only time Todd pushes back is when she claims that Kelly firing her without involving Trump is somehow illegal.